Roper: State will deduct 5% of some workers’ wages unless they opt out of VT Saves - Vermont Daily Chronicle

Roper: State will deduct 5% of some workers’ wages unless they opt out of VT Saves - Vermont Daily Chronicle

Happy Independence Day! by Rob Roper In 2023 the Vermont legislature passed a law spearheaded by Vermont State Treasurer Mike Piecack (D-VT), Act 43 – An act relating to the establishment of VT Saves. What it does is mandate employers with more than five employees and not otherwise offering a retirement savings plan to register and enroll their employees in this state-run savings account scheme. 5 percent of the employees’ salaries will be autom…