ATTENTION NEW YORK EMPLOYERS: New York’s Secure Choice Retirement Savings Program Now Live
On October 8, 2025, New York State announced that the New York’s Secure Choice Savings Program (Program) is officially underway.
The Program requires covered employers to either offer a retirement plan or join a new state-sponsored retirement savings program.
New York now joins a growing number of other states that have similar retirement plan mandates.
Under the Program, covered employers are those that are in business for at least two years, with 10 or more employees.
Covered employers must either offer a retirement plan to their employees, or automatically enroll their employees in a portable Roth Individual Retirement Accounts (IRAs) savings vehicle, through the State.
Next Steps:
Employers should assess whether they qualify as “covered employers” under the law and determine whether any exemptions apply (e.g., those that offer a 401(k) plan).
All employers will need to take some action.
- If an employer does not have a plan in place today it will need to decide whether to start offering a plan or join the State program.
- If an employer has a plan in place, then it must still certify its exemption from the Program with the State.
Covered employers must register by their applicable deadline:
- Employers with 30 or more employees: March 18, 2026
- Employers with 15 to 29 employees: May 15, 2026
- Employers with 10 to 14 employees: July 15, 2026
With the Program’s launch, covered employers face new administrative obligations and potential penalties for failing to enroll employees or remit contributions.
Employer obligations include registering for the Program, notifying employees, implementing automatic enrollment and opt-out procedures, and managing payroll withholding.
Please contact us to learn more about the requirements of the Program.