Takeaways
To expand access to retirement savings, New York now requires certain private-sector employers that do not sponsor a retirement plan to either:
- Register with the New York State Secure Choice Savings Program (“Secure Choice”) and facilitate employee participation in this state-sponsored program; or
- offer a qualifying employer-sponsored retirement plan.
Registration deadlines are staggered based on employer size, with the first deadline – March 18, 2026 –applying to employers with 30 or more employees.
New York State:
- Help Center – New York Secure Choice
- Employer FAQs – New York Secure Choice
- Program Details – New York Secure Choice Savings Program.
- Employer Verification / New York Secure Choice.
- How to Register for New York Secure Choice – New York Secure Choice
- Article 43 of New York State General Business Law – New York State Secure Choice Savings Program
Jackson Lewis Resources:
Article
What Is The New York State Secure Choice Savings Program?
The Secure Choice Program allows employees of participating employers to save for retirement through payroll deductions into individual IRAs. Employees are automatically enrolled at a 3% default contribution rate and can opt out or adjust their contribution rate at any time. Employees can also arrange for their contribution to be automatically increased each year. IRAs under the program are portable, and subsequent employers can contribute to the same IRA. See Program Details – New York Secure Choice Savings Program.
Participating employers are required to facilitate enrollment and payroll deductions, but do not sponsor the IRAs.
Which Employers Must Comply?
The law applies only to New York private sector employers (for-profit and nonprofit) that meet all these criteria:
- Employed 10 or more employees in New York at ALL times during the previous calendar year;
- Have been in business in New York for at least two years; and
- Have NOT offered a qualified retirement plan (such as a 401(k), 403(b), SEP IRA, SIMPLE IRA, or similar) in the past two years.
What Are an Employer’s Compliance Obligations?
For employers subject to the Secure Choice Program, the responsibilities are primarily administrative and payroll-related. Required actions include:
- Register with the Secure Choice Program by the applicable deadline;
- Upload employee census data to the Secure Choice online portal;
- Furnish program information provided by the Secure Choice Program to employees;
- Facilitate automatic enrollment of eligible employees;
- Implement payroll deductions for employee contributions and remit them to the Secure Choice administrator; and
- Maintain records of participation, opt-outs, contribution amounts, and payroll remittances.
Importantly, employers —
- do not act as fiduciaries with respect to the IRAs.
- do not make employer contributions.
- do not manage investments or provide financial advice.
Registration Requirements And Deadlines
Secure Choice will notify employers when it is time to register. If an employer receives a registration notice but already offers a qualifying retirement plan, it can certify an exemption through the Secure Choice portal using its federal EIN and a unique access code provided by the state.
Registration Deadlines:
- 30 or more employees – March 18, 2026
- 15 to 29 employees – May 15, 2026
- 10 to 14 employees – July 15, 2026
Registration is completed online at Employer Verification / New York Secure Choice. Information about registration is found at How to Register for New York Secure Choice – New York Secure Choice
Next Steps
New York employers should:
- Determine whether they meet the criteria to register or qualify for an exemption.
- Review prior retirement plan history to confirm eligibility status.
- Register by the applicable deadline if subject to the Secure Choice Program.
- Coordinate with payroll providers to ensure systems can accommodate Roth IRA payroll deductions.
- Gather accurate employee census information.
- Monitor communications from the Secure Choice Program.
In addition, employers subject to Secure Choice should evaluate the advantages and disadvantages of establishing an employer-sponsored retirement plan (such as a 401(k) or SIMPLE IRA) as an alternative to participating in the state program.
Members of the Jackson Lewis Employee Benefits Practice Group can help if you have questions or need assistance. Please contact a Jackson Lewis employee benefits team member or the Jackson Lewis attorney with whom you regularly work. Subscribe to the Benefits Law Advisor Blog here.