Md. Code, Labor and Employment § 12-402
Md. Code, Labor and Employment § 12-402
in effect(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 § 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.
Source: Open US Law by Vaquill AI (CC BY 4.0)URL: https://mgaleg.maryland.gov/mgawebsite/Laws/StatuteText?article=gle§ion=12-402&enactments=falseFetched: 10/17/2026