Beginning in 2026, New York’s Secure Choice Savings Program is slated to take effect—and if you’re a New York employer, it’s worth getting your ducks in a row now.
Think of this like routine maintenance on a truck you depend on every day. You don’t wait until the warning light starts flashing on the highway. You handle it in the driveway, on your schedule.
Who needs to pay attention?
If you had 10 or more employees in New York during the previous calendar year and you’ve been in business for at least two years, the state says you’ll need to offer employees access to a qualified retirement plan.
Good news if you already offer a plan
If you already provide one of the following, you’re considered compliant:
- 401(a), 401(k)
- 403(a), 403(b)
- SEP IRA, SIMPLE IRA
- 457(b)
In that case, your main task is typically to register with the State to confirm coverage.
If you don’t currently offer a plan, you have two paths
1) Implement a qualified retirement plan
For many employers, this can be a chance to build a benefit that supports retention and helps employees get serious about saving. Plan design, costs, administrative workload, and whether you want to contribute as an employer are all considerations.
2) Enroll in the State-sponsored Roth IRA program
The state’s option has a few key features to understand:
- Fully employee-funded (no employer contributions)
- Automatic enrollment after a 30-day opt-out window, with a default 3% payroll deduction
- Subject to federal Roth IRA contribution limits
In plain terms: it’s meant to be straightforward for employers to facilitate, while employees do the funding.
Registration deadlines (by employee count)
New York has set different deadlines based on your employee count:
- 30+ employees: March 18, 2026
- 15–29 employees: May 15, 2026
- 10–14 employees: July 15, 2026
A practical next step
If you’re not sure where you fall—or you’re weighing whether a workplace retirement plan may be a better fit than the state program—it may help to review:
- Your current benefits package and hiring/retention goals
- Payroll capabilities and administrative bandwidth
- Whether you want the flexibility of employer contributions
- How to communicate the change clearly to employees
If you’d like, our team can help you compare the state option versus establishing a qualified plan, and outline what implementation could look like for your business.
This overview is for general educational purposes and should not be considered legal or tax advice. Requirements and deadlines may change; consult appropriate professionals regarding your situation.