During the 2025 Legislative, the Minnesota Legislature passed legislation that created the Minnesota Secure Choice Retirement Program. The Minnesota Secure Choice Retirement Program (MNSCRP) is a state program that provides employees with an invested retirement savings option. NFIB opposed this legislation based on concerns related to the administrative burden of compliance. NFIB was ultimately able to secure an exemption for Minnesota’s smallest businesses, with small businesses with less than 5 employees being exempt from the program.

The MNSCRP requires businesses with 5 or more employees to register and participate in the program if they do not already offer a tax-qualified retirement option (such as a 401(k)) to their employees. Under the program, employers are not required to match employee contributions, nor will they need to pay any employer fees or take on any fiduciary responsibility. Employers who already offer a retirement option will need to file for an exemption from the program.

NFIB was also able to help secure a phased-in implementation to this program, which provides Minnesota’s smallest businesses with additional time to learn about the program and prepare for implementation. The implementation of the MNSCRP will adhere to the following implementation schedule:

• Employers with 100+ Employees Deadline: June 30, 2026
• Employers with 50 to 99 Employees Deadline: December 31, 2026
• Employers with 10 to 24 Employees Deadline: December 31, 2027
• Employers with 5 to 9 Employees Deadline: June 30, 2028.
• Employers with Less Than 5 Employees: EXEMPT

Employers will receive either an email communication or a postal letter with information on the program and a unique access code to access the portal and enroll or file an exemption beginning the week of January 19^th, with subsequent communications being sent during the assigned compliance period. Employers will then need to register with the MNSCRP, submit contributions for employees who choose to utilize the program, and keep their employer account up to date.

The MN Secure Choice Retirement Program has launched a Program Portal that includes additional information on the program and resources such as an Employer Fact Sheet, Program Details, an Employer Portal, and an FAQ.