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The Student Loan Relief program set up to provide relief from the strains associated with the COVID-19 pandemic will provide up to $20,000 in debt cancellation to Pell Grant recipients with loans held by the Department of Education, and up to $10,000 in debt cancellation to non-Pell Grant recipients. Borrowers eligible for this relief are those individuals whose income is less than $125,000 ($250,000 for married couples). The income cap is based on adjusted gross income, either from 2020 or 2021.
The Maryland Small Business Retirement Savings Program, which was authorized by House Bill 1378 in 2016, created MarylandSaves, which is set to launch in September of 2022.
MarylandSaves is a retirement savings program which requires most Maryland employers to offer their employees some sort of retirement savings. Businesses that have been in operation for at least two calendar years and have at least one W-2 employee are likely required to participate.
Congratulations to the 2022 recipients of the Bormel, Grice & Huyett Business Scholarship Award! Ayotomiwa Olagoke-Bello & Timothy Cronin of St. Vincent Pallotti High School were presented the award by Bette Anne Sanders. Our best wishes for future success to the Class of 2022!!
Larry Bormel of Bormel, Grice & Huyett, was honored with the Lifetime Achievement Award by The Central Maryland Chamber of Commerce during its 6th Annual Meeting and Hall of Fame Awards on May 9, 2022. The event recognized the companies and volunteers who partner with the chamber to be the voice of businesses, create jobs,, and help members thrive. Below Larry accepts his award with Bormel, Grice & Huyett partner Raymond Plummer, CPA (left), the Chamber's President Kristi Simon, and Chairman of the Board Mike Cammarata CFP®,ChFC®, RICP® (far right.)
