In 2025, New York State launched the New York Secure Choice Retirement Savings Program, a new state requirement for employers in New York with 10 or more employees who do not offer a retirement plan. Eligible employees will be automatically enrolled in the New York Secure Choice Program by their employers. They will have a 30-day period to set up and customize their accounts or opt out if they choose. Employees must opt-out or otherwise will be automatically enrolled and have deductions taken from their paychecks.

Employers are responsible for initiating payroll deductions, submitting contribution information, and maintaining records for employees who decide to remain in the program. After enrollment, employers are only required to facilitate the program; they are not obligated to contribute or provide any advice regarding the program or investments.

Registration deadlines are based on the number of employees in the business. Businesses with 10 to 14 employes must register by July 15, 2026.

For more information about the Secure Choice Retirement Savings Program, please visit www.NewYorkSecureChoice.com