Private sector employers, including nonprofits, that operate in Vermont and do not already offer a qualified retirement savings plan are required to participate in VT saves if they have been in business during the current and preceding year.

The rollout of the program has started on the following schedule:

• July 1, 2025, for employers with 25 or more employees;
• January 1, 2026, for employers with 15 to 24 employees; and
• July 1, 2026, for employers with 5 to 14 employees.

Employers are responsible for auto enrolling employees in the plan and withholding employee payroll contributions; however, they may not contribute to the accounts, are not fiduciaries, or legally responsible for plan design, administration or employee participation.

To learn more about the state mandate and benefits provided through the program visit https://www.vtsaves.vermont.gov/.