Preparing for State Retirement Mandates: New York Secure Choice & Beyond

Employers (and HR professionals) in New York State, take note. There is a new program you may be required by law to register for: Secure Choice. Secure Choice is New York State’s retirement savings program for private-sector employees without an employer-sponsored plan.

If you are supposed to register and fail to do so, you are opening your organization up to lawsuits, and the registration deadline – beginning March 18, 2026 – is quickly approaching. Here’s what you need to know to achieve compliance.

Who Must Register for Secure Choice?

Companies in New York that:

• Have 10 or more employees,
• Do not already offer a qualified retirement plan to employees, and
• Have been in business for at least two years, must register for Secure Choice.

When Is Secure Choice Registration?

New York State will let you know your registration deadline, but it’s a good idea to register proactively and early. Registration is open now. Here are the application deadlines:

• Employers with 30+ employees must register by March 18, 2026.
• Employers with 15 to 29 employees must register by May 15, 2026.
• Employers with 10 to 14 employees must register by July 15, 2026.

What Are the Benefits of Secure Choice for Employers?

Secure Choice is an obvious benefit to your employees. The program allows your staff to save for their futures through automatic payroll contributions to a Roth IRA.

Perhaps less obvious, Secure Choice is also beneficial for your business. For one, it could help you attract and retain talent who might otherwise cast your job opportunity aside because it doesn’t offer a 401(k) or other qualified retirement plan.

Also, the program is free to facilitate, easy to register for, and relatively hands-off once it is set up. You do not have to (and are not permitted to) match employee contributions. You do not even have to advise employees on their investment decisions; you are not responsible for the outcomes of Secure Choice accounts.

Are there Downsides to Secure Choice for Employers?

You do need to automatically enroll your employees in Secure Choice and handle payroll contributions to their accounts, which adds a step to payroll processing. Additionally, Secure Choice’s plan is not employer-sponsored. Therefore, there are no tax credits or tax savings for employees, potentially making it less attractive than a qualified retirement plan.

You also need to consider out-of-state employees. They are eligible for the plan if they work in New York, even if they don’t live in New York. Multi-state compliance can be tricky (we have a tool, StateCheck, to help).

If you own more than one company required to participate in Secure Choice, you will have to go through the registration process for each company. You will also have to remember to keep employment records up to date with Secure Choice, which is an additional step when someone on staff is terminated or otherwise leaves your company.

What About Other States?

As mentioned, if you have employees who live in another state but work in New York/have income in New York, you must facilitate the Secure Choice program for them. However, if your business operates in more than one state, you do not need to facilitate the program for employees who are not paid in New York. This is unless, of course, the other state(s) you operate in also have required state-facilitated retirement programs.

There are already states with fully implemented programs just like Secure Choice. These states are:

• California
• Colorado
• Connecticut
• Delaware
• Illinois
• Maine
• Maryland
• Massachusetts 
• New Jersey
• Oregon
• Virginia
• Washington

There are even more states with programs about the launch, including Hawaii, New Mexico, Nevada, and Vermont, and others proposing programs as we speak.

Each state’s program (whether active or proposed) is slightly different, requiring diligence, especially upon registration.

How Compensation Resources Can Help with State-Facilitated Retirement Plans

New York Encourages Employers to Ask for Help with Secure Choice Compliance. Ask Us.

You are permitted to have a payroll administrator manage Secure Choice compliance on your company’s behalf. They can register your company, integrate and process payroll, and maintain employee records in a clean, up-to-date state. Let us provide payroll services to you.

Multi-State Compliance Is Here to Stay. StateCheck Can Keep You on Track.

We suspect more retirement programs like Secure Choice will launch as states aim to support their residents’ retirements. Again, multi-state compliance can be difficult, yet increasingly relevant in today’s decentralized work environment. Our tool, StateCheck, was created to help you navigate this complex, cross-state compliance landscape.

If You’re Ready to Change Your Employee Benefits Offering, We’re Here.

Rather than register for Secure Choice or another state program, you may decide to offer a qualified retirement plan, such as a 401(k). Allow our team to advise you on plans that benefit your company and employees. Then, we’ll file for your company's exemption from applicable state programs. We can consult on any employee benefits for your employees.