MD finally got their free retirement IRA program for small employers

[Abby Normal]

MarylandSaves is also easy for employers. Registration is quick and FREE: there is no charge to employers – in fact, the State will waive a $300 annual registration fee for employers that sign up.

https://marylandsaves.com/

[Lee B]

Oregon has had a similar program for about 4 years now called Oregon Saves.

While it's a laudable idea it ignores reality.

1. Most working class families live paycheck to paycheck and don't have any extra money.

2. Most small employers are just trying to survive so they ignore the Oregon Saves program.

3. There's no enforcement so there' s no penalty for not participating.

[Medlin Software, Dennis]

Ca and Il have it too. I suspect all are back ended and “sold” to the states by one company. It looks good to the public, and creates a new board or similar in each state to oversee.

Hard to believe there are not already better returns available open market.

I can see the merit of something for those who have not bothered to setup something on their own, but those are the ones not likely to set this up either. 
 

old reference…

As of July 2022, 11 states have passed legislation authorizing auto-IRA programs. Six of those states — Massachusetts, Connecticut, Illinois, California, Oregon, and Washington — have live programs. The other five ― Colorado, Maine, New Jersey, New York, and Maryland ― have not fully implemented the programs yet.