MarylandSaves allows small business owners to offer retirement savings plans to employees that may not have been able to afford a Roth IRA in the past. The $300 fee to register in the program will be waived for businesses that sign up by Dec. 1, according to a press release. 

Known as a work-life savings account, this benefit is funded through employees' payroll deductions if they opt in. The first $1,000 will be contributed to an emergency savings fund. Contributions beyond that will be invested in the retirement savings plan. There are no employer contributions.

This benefit is designed to help small businesses attract and retain employees. It was created under a new Maryland law that requires most employers to offer a payroll-deducted, automatic retirement savings option for their employees.