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The New York State Secure Choice Savings Program ("New York Secure Choice") is a state‑facilitated retirement savings program designed to expand access to retirement savings for private‑sector employees who do not have a workplace retirement plan. The program allows eligible workers to save for retirement through automatic payroll deductions into individual Roth IRAs that they own and control.
Compliance Deadlines
New York Secure Choice officially launched in October 2025, with mandatory employer registration and exemption certification deadlines rolling out in 2026, staggered by employer size. Employers receive notice from New York State but may proactively register.
For employers with 30 or more New York-based employees, the deadline for compliance with these requirements is March 18, 2026. For employers with between 15 to 29 New York-based employees, the deadline for compliance is May 15, 2026. For employers with between 10 to 14 New York-based employees, the deadline for compliance is July 15, 2026. These requirements do not apply to employers with less than 10 New York-based employees.
Which Employers Are Required to Participate
An employer is required to register for New York Secure Choice if all three of the following apply:
- The employer has 10 or more employees in New York State during the prior calendar year;
- The employer has been in business for at least two years; and
- The employer does not offer a tax-qualified retirement plan for its employees (for example, a 401(k) or 403(b) plan, a SEP IRA, or a SIMPLE IRA).
Employers that already offer a tax-qualified plan to their employees are exempt but must still register and certify their exemption through the New York Secure Choice portal.
Employer Responsibilities (Limited and Non‑Fiduciary)
For covered employers, New York Secure Choice is designed to be low‑burden:
- Register with the program or certify exemption;
- Upload employee information;
- Set up payroll deductions for participating employees; and
- Remit employee contributions each pay period.
Covered employers do not make contributions or matching contributions, choose or manage investments, or have fiduciary responsibility under ERISA.
There is no charge for employers to facilitate New York Secure Choice.
Employee Participation and Account Structure
Eligible employees (age 18 or older with taxable wages from a New York employer) are:
- Automatically enrolled, but may opt out at any time;
- Enrolled at a default 3% contribution rate of gross pay; and
- Able to change contribution rates, select investments, or opt into automatic annual escalation (typically up to 10%).
Each New York Secure Choice account is a Roth IRA:
- Funded with after‑tax dollars;
- Earnings and qualified withdrawals are tax‑free; and
- Portable if the employee changes jobs.
Employees own their accounts; New York State administers the program.
Investments and Administration
The program is overseen by the New York Secure Choice Savings Program Board, which selects a limited menu of professionally managed investment options. Participants may choose their investments or remain in a default structure that generally includes:
- A short‑term principal protection option at enrollment; and
- Transition to an age‑appropriate target‑date fund.
All investment oversight and participant communication are handled at the state level.
The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.
