"The Maryland Small Business Retirement Savings Program and Trust ('Program'), which is effective on July 1, 2016, requires covered private-sector employers to participate in the Program. Covered employers will be required to remit employee payroll contributions into an IRA, and the State will act as the Program's fiduciary.... The Program expressly provides that 'an employer is not a fiduciary, and may not be considered to be a fiduciary' of the Program. Further, an employer may not be held liable for: [1] an employee's decision to participate in or opt out of the program; [2] the investment decisions of employees; [3] the administration, investment, or investment performance of the Program; or [4] the Program design or benefits paid to participating employees."  MORE >>