New York State is officially moving forward with its long-delayed Secure Choice Savings Program, a state-run retirement initiative designed to expand access to Roth IRAs for private-sector employees. After years of postponements, employer registration is now open, and most businesses will be required to take action ahead of the 2026 deadlines.

What Is the New York Secure Choice Savings Program?

Established under New York General Business Law Article 43 in 2021, Secure Choice is a mandatory retirement savings program for employees who do not currently have access to a qualified retirement plan through their employer.

The program facilitates the creation of Roth IRAs, allowing employees to save automatically through payroll deductions.

Beginning March 2026, many private-sector employers must either register for the program or certify that they are exempt.

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Who Must Participate?

A private employer is required to participate if all three of the following are true:

• The business has been operating for at least two years
• It employed 10 or more workers in New York during the previous calendar year
• It does not offer a qualified retirement plan

There is no cost for employers to join, and the program does not require employer contributions or matching.

Employees who participate will pay a $28 annual fee (billed quarterly) and an asset-based fee between 0.22% and 0.31% of their account balance.

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How Employee Enrollment Works

Employers must automatically enroll all eligible employees ages 18 and older. After enrollment, employees have 30 days to either:

1. Set their own contribution rate and investment preferences, or
2. Opt out of the program entirely.

Anyone who does not take action will be defaulted into a 3% payroll deduction. Employers will be responsible for withholding contributions and remitting them to the program’s Roth IRA provider.

For lower-income employees—especially those earning close to minimum wage—this could reduce take-home pay by roughly $80 per month, making education and communication especially important.

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If You Already Offer a Qualified Retirement Plan

You do not have to enroll in Secure Choice.
But you do have to certify that you are exempt by submitting information about your plan to the Secure Choice Savings Program Board.

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Key Deadlines for Employers

The state will notify employers when it’s time to register or certify their exemption, but business owners should already be preparing for these deadlines:

• March 18, 2026 – Employers with 30+ employees
• May 15, 2026 – Employers with 15–29 employees
• July 15, 2026 – Employers with 10–14 employees

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What Employers Should Do Now

With the rollout approaching, businesses should take proactive steps:

✔ Determine Your Status

Confirm whether you’re exempt based on employee count or because you already offer a qualified retirement plan.

✔ Consider Your Options

If you do not currently offer a plan, talk to employment counsel about whether enrolling in the state program or implementing a private qualified plan is the better choice.

✔ Prepare Your Payroll Systems

Employers who expect to enroll should gather the required employee data and ensure their payroll provider can support automatic contributions.

✔ Communicate With Employees

Prepare clear internal messaging so employees understand their rights, options, and how payroll deductions may impact their net pay.

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As New York moves forward with Secure Choice, early preparation will help employers stay compliant and minimize disruptions. Staying ahead of the deadlines—especially for small and mid-sized businesses—will make the transition significantly smoother.