Guide to Secure Choice Retirement Programs

secure choice retirement map

With an epidemic of Americans being underprepared to provide financially for their twilight years, more and more states are mandating that businesses offer a retirement plan to their employees. 

Many of these states have established Roth IRA programs for those businesses that either don’t want or can’t afford to offer a private retirement plan. 

But with private plans for small businesses being much easier to administer and more affordable than ever before, many companies are turning to fintech options like 401GO to give their employees a truly beneficial experience.

Get the details about individual state secure choice retirement mandates below.

california secure choice retirement


CalSavers status: ACTIVE

1000+ employees: 9/30/2020
50+ employees: 6/30/2021
5+ employees: 6/30/2022
1-4 employees: 12/31/2025

colorado secure choice retirement


Colorado SecureSavings status: ACTIVE

50+ employees: 3/15/2023
15-49 employees: 5/15/2023
1-14 employees: 6/30/2023

connecticut secure choice retirement


My CTSavings status: ACTIVE

100+ employees: 6/30/2022
26+ employees: 10/31/2022
5+ employees: 3/30/2023

*Deadline extended to 8/31/2023

Illinois secure choice retirement


Illinois Secure Choice status: ACTIVE

500+ employees: 11/2018
100+ employees: 7/2019
25+ employees: 11/2019
16+ employees: 11/2022
5+ employees: 11/2023

maine secure choice retirement


Maine Secure Choice status: ACTIVE

25+ employees: 4/1/2023
15+ employees: 10/1/2023
5+ employees: 4/1/2024


MarylandSaves status: ACTIVE

Launched 9/15/2022
No deadlines established yet.

new york secure choice retirement

New York

New York Secure Choice status: PENDING

Expected to launch in 2022
No deadlines established yet.

oregon secure choice retirement


Oregon Saves status: ACTIVE

100+ employees: 11/15/2017
50+ employees: 5/15/2018
20+ employees: 12/15/2018
10+ employees: 5/15/2019
5+ employees: 11/15/2019
3-4 employees: 3/1/2023
1-2 employees: 7/21/2023

virginia secure choice retirement


RetirePath status: PENDING

Registration opens July 1, 2023

25+ employees: Sept 18, 2023

State Notes
Legislation signed, launch date not yet established.
Legislation signed. Expected to launch July 2024.
Active, voluntary MEP for non-profits only.
Legislation signed, launch date expected in 2024 or 2025.
Voluntary MEP, expected launch by September 2025.
Legislation signed, launch date not yet established.
Currently voluntary. Planning to partner with Colorado, expected to launch July 2024. (Will still be voluntary.)
Legislation signed, expected to launch 2025.
Voluntary MEP designed for businesses with 50 or less employees. Vermont Saves rolling out to all businesses starting 2025.
Voluntary marketplace with multiple types of low-cost IRA and 401(k) plans, for companies with 100 or less employees.

Download the free guide to secure choice retirement plans.

With secure choice plans being offered in more and more states, it’s important for businesses to understand enough details to make an informed decision. Retirement plan decisions can have far-reaching consequences for both employer and employee.

State mandated plans are typically Roth IRAs, which have different rules and regulations than 401(k) plans. Plan designs and mandates vary from state to state, but most have some basic similarities that will help you make a smart choice.

This guide will help you know what to consider when choosing a retirement benefit.

Secure Choice or 401k

More Reading About Secure Choice Retirement Programs & Alternatives

An epidemic of under-preparedness for retirement is growing in the United States, while confidence in Social Security is shrinking. States are responding with legislation that requires businesses to offer a work-sponsored retirement program to their employees, either a private plan — such as a 401(k) — or the state-provided plan, often a Roth IRA.

While a Roth IRA can be a beneficial tool for retirement saving, these broad scale programs are far from ideal. Program details vary from state to state, so it’s wise to read the fine print.

In these articles, we discuss program details, pros and cons, and consider alternatives.

Maryland Saves pros and cons

MarylandSaves Retirement Program: Pros and Cons

The state of Maryland introduced the Maryland Small Business Retirement Savings Program and Trust in 2016, and the program wa

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CT secure choice

Connecticut Retirement Program My CTSavings: Pros and Cons

My CTSavings is patterned after other successful programs here in the U.S. But is it the right retirement vehicle for your team?

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NY secure choice pros and cons

New York Secure Choice Savings Program: Pros and Cons

The state of New York mandates that all employers that do not offer a retirement plan enroll their employees in the state Secure Choice Savings Progra

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calsavers guide

CalSavers: The California Secure Choice Program

The state of California has enacted into law a mandatory retirement plan called CalSavers. This mandate will affect millions of companies with employe

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secure choice ultimate guide- blog size

401(k) or Secure Choice: The Ultimate Guide

With secure choice plans being offered in more and more states, it’s important to understand enough details to advise clients properly on their best

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Illinois secure choice

Illinois Secure Choice Program: Pros and Cons

The state of Illinois passed the Illinois Secure Choice Program Act, which became effective in June of 2015. Like many other similar state retirement

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