# Labor and Employment (GLE)

## Title 12. Maryland Small Business Retirement Savings Program and Trust

### Subtitle 4. Maryland Small Business Retirement Savings Program

#### Section 12-402

(a)

  (1) After the Board opens the Program for enrollment,  covered employers shall establish a payroll deposit retirement savings arrangement to allow employee participation in the Program.

  (2) A covered employer shall automatically enroll a covered employee in the Program, unless the employee elects to opt out in accordance with procedures established by the Board.

(b) If a covered employer is not in compliance with subsection (a) of this section, the covered employer may not receive a waiver of the filing fee under Sec. 1-203(b)(13) of the Corporations and Associations Article.

(c) Employers shall retain the option at all times to set up any type of employer-offered savings arrangement instead of having a payroll deposit retirement savings arrangement to allow employee participation in the Program.

(d) Compliance with this title and participation in the Program by itself does not create a fiduciary obligation of an employer with respect to the operation of the Program or funds contributed to the Program.

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Md. Code Ann., Lab. & Empl. (as displayed at mgaleg.maryland.gov, October 16, 2026)