Nevada passed legislation on June 16, 2023, to adopt a state-run savings program. The legislation will require employers that employ five or more employees and who have been in business for at least…
Mandatory Retirement Plan
Minnesota Secure Choice Retirement Program
Minnesota passed legislation on May 19, 2023, to adopt a state-run savings program. The legislation will require employers that employ five or more employees and who have been in business for…
Hawaii Retirement Savings Program
Legislation to establish the Hawaii Savings Retirement Savings Program passed in 2022. Employers who have been in business at least 2 years and have not offered or maintained a qualified retirement plan at any time during…
New York State Secure Choice Savings Program
Enrollment in the New York Secure Choice Savings Program has not started yet and is still under development. As of January 2024, enrollment is not required. Currently it is suggested that…
CalSavers Retirement Savings Program
CalSavers was launched in 2019. Registration took place in three waves. All employers with five or more employees must have registered by June 30,...
Colorado Secure Savings Program
Colorado began phasing businesses into the Colorado Secure Savings Program in 2023. It requires all Colorado businesses with 5 or more employees who...
Why Adopt a Company 401(k) Plan Instead of My State’s IRA Program?
There are many reasons why a business should adopt a 401(k) Plan instead of a state-administered IRA...
Maryland Saves Workplace Retirement Program
The Maryland Saves Program became available on September 15, 2022. Maryland employers that have been in operation for at least 2 calendar years,...
Connecticut MyCT Savings Program
Connecticut established and began requiring employers to join MyCTSavings in April 2022. Currently any employer with five or more employees in...
OregonSaves
OregonSaves applies to businesses that do not offer an employer-sponsored retirement savings plan to their employees. As of July 2023, if your business had at least one employee…
New York City Secure Choice Savings Program
Legislation was passed to begin a program for New York City employers, but implementation is still to be determined. Employers with 5 or more...
Delaware’s State-Mandated Retirement Program – EARNS
Delaware’s state-mandated retirement program is an auto-IRA program signed into law on August 18, 2022. Expected to launch in 2025, employers with...
RetirePath Virginia
RetirePath Virginia requires businesses with 25 or more eligible employees and in operation for more than two years to enroll in Retire Path if they...
Massachusetts Secure Choice Savings Program
Massachusetts legislation that would create Secure Choice, is now before the Rules Committees of both chambers of the Massachusetts’s legislature....
New Mexico Work & Save
New Mexico will offer a voluntary program where employees can contribute to Roth IRAs. Legislation allows for development of a web-based “retail”...
Maine Retirement Investment Trust (MERIT)
Maine has rolled out a state-sponsored Roth auto-IRA plan, MERIT, for companies that have been active for at least two years, have more than five...
Washington State Small Business Retirement Marketplace
Washington does not mandate that businesses adopt a retirement savings plan. They have developed a Retirement Marketplace that is entirely voluntary.
Retire Ready New Jersey
The Retire Ready New Jersey program launched on June 30, 2024. The program requires businesses who employ 25 or more employees to adopt Retire Ready...