| Rule Number: |
25P039 |
| Title: |
Vermont Saves Program Rule. |
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Type:
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Standard |
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Status:
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Adopted |
| Agency: |
Office of State Treasurer
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| Legal Authority: |
3 V.S.A. § 533(1) |
| Summary:
| The Vermont Saves Program Rule makes two amendments to the existing Rules implemented in 2024 pursuant to 3 V.S.A. Chapter 18. These amendments change the following definitions in CVR 03-000-003, Sec. 1: 11. “Covered employee” means a “covered employee,” as that term is defined in 3 V.S.A. § 531(2). 12. “Covered employer" means a ‘covered employer,’ as that term is defined in 3 V.S.A. § 531(3), that employs two or more employees at any time during a calendar year. These changes will require the participation of more employers and employees in the program by broadening the membership criteria in statute. |
| Persons Affected:
| The Rule primarily affects employers in the State with two or more employees who do not offer a workplace retirement plan and all eligible employees who are automatically enrolled in the Program. The rule may also affect financial advisers and payroll companies who are contacted about retirement or other workplace benefits that are an alternative to the Vermont Saves Program. |
| Economic Impact:
| In its first year of implementation, Vermont Saves has helped thousands of Vermonters invest millions of dollars in retirement accounts through the Program. Enlarging the participant pool will enable more Vermonters to begin saving for retirement. |
| Posting date: |
Nov 05,2025 |
| Information for Contact # 1 |
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Level:
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Primary
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| Name: |
Becky Wasserman |
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Agency:
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Office of State Treasurer
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| Address: |
109 State Street, Suite 4 |
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| City: |
Montpelier |
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| State: |
VT |
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| Zip: |
05609 |
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| Telephone: |
802-498-3466 |
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| Fax: |
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Email: |
becky.wasserman@vermont.gov
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| Website Address: |
https://www.vermonttreasurer.gov/vt-saves
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| Information for Contact # 2 |
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Level:
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Secondary
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| Name: |
Justin St. James |
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Agency:
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Office of State Treasurer
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| Address: |
109 State Street, Suite 4 |
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| City: |
Montpelier |
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| State: |
VT |
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| Zip: |
05609 |
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| Telephone: |
802-917-2785 |
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| Fax: |
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Email: |
justin.stjames@vermont.gov
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