Vermont Saves

Vermont Saves Enrollment is Open for Employers - Register: Home - Vermont Saves

The deadline for employers to enroll has passed. Avoid penalties. Register at vtsaves.vermont.gov

What is Vermont Saves?

The Vermont Saves program establishes a retirement savings plan for Vermonters who are not currently offered a retirement plan through their employer. It’s designed to make saving for retirement easy and automatic, at no cost to employers and no ongoing cost to taxpayers. 

How does Vermont Saves work?

The program will automatically enroll workers who do not have access to a retirement plan through their employer in a Roth IRA account. Contributions to the account will be deducted automatically from workers’ paychecks, making it a hassle-free way to save and invest for retirement. Employees can set their own contribution rate, or use the program default, and can opt out of the program if they choose. Employees can also choose from a simple menu of investment options including low-fee target date funds that automatically rebalance over time.

Is Vermont Saves different from the Green Mountain Secure Retirement Plan? 

Vermont Saves replaces Green Mountain Secure Retirement (GMSR) as the State’s public retirement plan.  The GMSR was never operational and was repealed pursuant to Act 43 of 2023.  The enabling legislation for the GMSR can be found in Act 69 of 2017 , as amended by Act 72 of 2019.  Recordings of all Green Mountain Secure Retirement Public and Board meetings can be found here. 

Eligible employers will receive enrollment details via email or mail from Vestwell, the program administrator.

Employer assistance - Vestwell
1-844-599-4911

Saver assistance - Vestwell
1-833-575-0672

NOTICE: Vermont Saves requires all employers with five or more employees to register by the end of February 2025 unless they already offer a qualified workplace retirement program. Employers who do not need to enroll include those who provide a retirement plan such as a 401(k), 403(b), or other similar program to their employees. More Information

Enabling Statute - 3 V.S.A. Chapter 18

Follow Vermont Saves on Social Media: 

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Additional Resources:

Vermont Saves Advisory Board

NEW: Vermont Saves Program Rules

Inaugural Vermont Saves Annual Report

S.135 (Act 43) - An act relating to the establishment of Vermont Saves.

For Immediate Release: Vermont Saves Signed into Law, Treasurer’s Initiative Will Provide Retirement Savings Plan to Tens of Thousands Vermont Workers

Contact:

Becky Wasserman

Director of Economic Empowerment 

Office of the Vermont State Treasurer

vtsaves@vermont.gov