• TRS CPA

Maryland Saves Update & IRS Deadline Approaching

All businesses will need to put a retirement plan in place or go through the State.


Attached is information on State-Sponsored Retirement plans and below is a link to the ADP page that talks about state mandates.


https://www.adp.com/resources/articles-and-insights/articles/s/state-mandated-retirement-plans.aspx#:~:text=State%2Dmandated%20retirement%20plans%20are,to%20comply%20with%20the%20laws.


Below is also the Md Saves page with additional details


https://marylandsaves.com/employers/program-details


We’re also approaching the SAFE HARBOR Deadline on 10/1, which is the last day to put a business retirement plan in place for 2022. With the retirement plan deadline of OCTOBER 1 quickly approaching, we are meeting with many of our clients to see if they can use a tax shelter like a 401k or SIMPLE IRA to offset their overall taxable liability. Both of these retirement plans are easily managed and seamlessly connected to their payroll account.


Simple Promo: The administration fee for the SIMPLE IRA is $40/month but we have a promotion that waives the monthly fee until January 2023! So your clients can put a plan in place now and not pay a monthly fee for the rest of 2022.


Learn more with the documents below on how to set up your MarylandSaves Employer Account and ADP Retirement Services by State.

Maryland Saves Registration Info
.pdf
Download PDF • 147KB

ADP Retirement Services - State Sponsored Retirement Plans Job Aid (1)
.PDF
Download PDF • 297KB

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