Colorado SecureSavings is a new state workplace retirement savings program created by the Colorado SecureSavings Board. The program is designed to help Colorado employers and employees set automatic payroll contributions to a Roth Individual Retirement Account (IRA) account and save for the future.
State-Run Retirement Plans
Some states are setting up their own marketplaces or state-run retirement saving programs to help make it easier for small businesses and their employees to save for the future. Check out this list to see if your state is offering a program.
Colorado SecureSavings
Illinois Secure Choice
The Illinois Secure Choice Savings Program, signed into law January 2015, will help small businesses that struggle to offer retirement savings opportunities to their employees and provide retirement security to the 2.5 million Illinoisans who do not have access to an employment-based retirement plan. Below is an overview of what small businesses need to know about the program.
OregonSaves
OregonSaves is a new, simple way for Oregonians to save for retirement at work. Employees contribute part of their paycheck into their own personal Roth IRAs that stay with them throughout their careers. The program also benefits employers who don't offer a qualified retirement plan by helping them compete with businesses that do.
Calsavers (CA)
The CalSavers Retirement Savings Program is portable workplace retirement savings program for private sector workers whose employers are unable to offer their employees a way to save for retirement. CalSavers is run by the state and funded by modest employee contributions, so it involves minimal requirements for employers.
Washington State Small Business Retirement Marketplace
The Washington Small Business Retirement Marketplace, helps bring retirement parity to small businesses that struggle to offer retirement benefits to their employees. In addition to helping small businesses better compete for and retain talented workers, this program also benefits the nearly 1.5 million Washington workers who do not have access to a retirement plan through their employer.
Wisconsin Saves Automatic Saving Initiative
Wisconsin Saves is a new automatic saving initiative that launched in April 2021 for employers in Wisconsin. As part of a national pilot program, Wisconsin Saves is designed to encourage millions of Wisconsinites to establish emergency savings accounts through the automated saving strategy of split deposit. Below is an overview of what small businesses need to know about the program.