# Labor and Employment (GLE)

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

### Subtitle 5. Limitation of Liability

#### Section 12-501

(a) An employer may not be held liable for:

  (1) an employee's decision to participate in or opt out of the Program;

  (2) the investment decisions of employees whose assets are deposited in the Program;

  (3) the administration, investment, or investment performance of the Trust or the Program; or

  (4) the Program design or the benefits paid to Program participants.

(b) An employer is not a fiduciary, and may not be considered to be a fiduciary, of the Trust or the Program.

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