Vermont Business Magazine In recognition of Financial Literacy Month kicking off April 1, Treasurer Mike Pieciak is reminding eligible Vermont employers to enroll in Vermont Saves, the State’s auto-IRA program. Pieciak highlighted that the program is critical to strengthening Vermonters’ financial security and helping them start saving for retirement as soon as possible.
Vermont Saves is an affordable retirement program for employers to offer their employees. The program was created to expand retirement access to the tens of thousands of private‑sector workers who are not offered a plan through their employer and are less likely to be saving for their future.
Employers who do not already offer a qualified retirement plan, such as a 401(k), are required to enroll in Vermont Saves. Their employees will be automatically enrolled in a Roth IRA with flexible options to save at their own pace or opt out of the program if they choose.
“Saving for retirement can be daunting, especially as rising costs compete for every dollar of take-home pay. Without access to financial education, it’s even harder to know where to start,” said Treasurer Pieciak. “Vermont Saves makes saving for retirement easy and automatic—helping Vermonters build the skills and confidence to take control of their financial future.”
Financial literacy is a key factor in retirement readiness. Research consistently shows that individuals who understand basic financial concepts are more likely to save, contribute regularly, and stay on track for retirement. Vermont Saves was designed with this in mind. By making saving automatic and accessible, the program helps workers take the first step toward building financial security, even if they are new to saving or unsure where to begin.
Today, Vermont Saves includes over 5,830 savers, $5.975 million in assets, and 1,375 registered employers. These numbers reflect the program’s growing reach as more employers and workers engage with retirement planning and financial education resources.
In February, the program’s employer eligibility threshold was lowered from five employees to two, expanding access to thousands of small businesses. Newly eligible employers will receive outreach from Vermont Saves’ program partner, Vestwell, in the coming month. The program is of little to no cost to participating employers.
Employers who have been eligible since the program’s launch should have already received pre‑enforcement communications from the Treasurer’s Office with instructions on how to enroll or certify their exemption.
To support Vermonters’ financial knowledge, the Vermont Saves website offers free educational resources, including budgeting guides, retirement planning resources, and financial wellness information.
Learn more about Vermont Saves here.
4.1.2026. Montpelier, VT – Treasurer
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Vermont Business Magazine