Participation by savers in MarylandSaves is completely voluntary. Participants who use MarylandSaves beneficially own and have control over their Roth or traditional Individual Retirement Accounts (“IRA”), as provided in the Program Description. Account balances are not guaranteed or insured by the MSBRSP, the State of Maryland, the Federal Deposit Insurance Corporation (“FDIC”) or other government organizations. Account balances in MarylandSaves will vary with market conditions, except for the Emergency Savings Fund which is invested in a guaranteed investment contract issued by The Lincoln National Life Insurance Company. For more information on MarylandSaves’ investment options, go to. MarylandSaves’ investment options are selected by the MSBRSB. Under Maryland law, the Maryland Small Business Retirement Savings Board is a fiduciary with responsibility to act in the best interests of savers and in accordance with applicable law. Information about MSBRSB and the program’s management and staff can be found at. Sumday and The Bank of New York Mellon are responsible for day-to-day program operations. Vestwell State Savings, LLC (“Vestwell”), dba Sumday Administration (“Sumday”), is the program administrator. (“MSBRSP”), an instrumentality of the State of Maryland. MarylandSaves (the “Program”) is sponsored by the Maryland Small Business Retirement Savings Program (“MSBRSP” or “the Board”) through Maryland Small Business Retirement Savings Program, Inc.
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