Driven by expanded access for small businesses that now includes under the two‑employee threshold. The milestone reflects broader participation and growing retirement security for Vermonters across the state.
Vermont Business Magazine Vermont’s public retirement savings program has reached a new milestone: over $8.02 million saved by working Vermonters across the state. The growth reflects a surge in participation following the expansion of Vermont Saves to employers with two or more employees, a change that opened the door for thousands of additional small businesses.
"Small businesses are the backbone of Vermont's communities and they deserve affordable retirement solutions that work for them," said Treasurer Pieciak. " As Vermonters continue to feel the weight of rising costs, Vermont Saves is empowering workers to build financial security for the future. Reaching $8.02 million in savings shows that when we make saving easier, Vermonters take advantage."
Since the threshold change took effect in February 2026, enrollment has accelerated among the small employers that make up the majority of Vermont’s business community. To date, over 1,700 employers have enrolled in Vermont Saves, establishing retirement savings accounts for over 6,000 employees.
Many participating businesses have long wanted to offer retirement benefits but lacked the budget or administrative capacity to do so. Vermont Saves fills that gap by providing a simple, no‑cost way for employers to help their fellow Vermonters save.
Savers are automatically enrolled by participating employers in a Roth IRA and can adjust their contributions or opt out at any time. For many, this is the first time they’ve had access to a workplace retirement plan.
Reaction From Participating Employers
Kevin M. Burke, Program Director at Lenny Burke’s Farm in Wallingford, a residential care facility specializing in treatment for survivors of traumatic brain injuries, highlighted the benefit of Vermont Saves for small employers.
"We continue to be delighted to offer the Vermont Saves program to our staff,” said Burke. “This savings and retirement benefit can be a challenge for small businesses to offer. Vermont Saves has changed that for the better. To be able to offer this to new staff beginning their careers is so appreciated, and such a tangible representation of how we can collaborate in Vermont to support our workforce, as our folks nearing the retirement age use the program as well."
Jody Fried, Executive Director of Catamount Film & Arts in St. Johnsbury, emphasized that Vermont Saves levels the playing field for small rural businesses. "Catamount Arts has been thrilled to utilize the Vermont Saves program for our team,” said Fried. “One of our biggest challenges operating as a small business in the Northeast Kingdom has always been offering benefits to our amazing staff that are comparable to larger employers in more populated areas. The Vermont Saves program has helped us equalize our smaller scale and rural location."
Next Steps for Eligible Employers
The program’s administrator, Vestwell, will continue outreach on behalf of the Office of the Vermont State Treasurer via mail or email to newly eligible employers, including those who previously certified an exemption under the former five‑employee threshold, through the June 30 registration deadline. Employers already eligible since the program’s launch should have received pre‑enforcement communications from the Treasurer’s Office.
With more small businesses participating and more Vermonters saving each month, Vermont Saves is demonstrating how even small contributions, made consistently, can add up quickly. Crossing $8.02 million in assets is both a nod to Vermont’s one-of-a-kind identity, and it reflects real savings building up for hard-working Vermonters across the state.
Resources for employers and savers are available through Vermont Saves.
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Vermont Business Magazine