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COLORADO - SECURE SAVINGS PLAN REQUIREMENT

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    Continuing our ongoing post election requirement reminder series Colorado employers  also have to consider how to deal with the Colorado Secure savings plan requirements (For employers that don't offer a retirement plan this is a government mandate.)

    The program was established by the legislature as the Colorado secure savings plan (plan), which is a retirement savings plan for private-sector employees in the form of an automatic enrollment payroll deduction individual retirement account. Employers with a specified number of employees in the state are required to participate in the plan, but any employer may choose to participate in the plan.

    All eligible Colorado employers are required by law to facilitate Colorado Secure Savings if they don’t offer a retirement plan for their employees.

    Number of employees

    Registration deadline

    Employers with 50 or more employees

    March 15, 2023

    Employers with 15 to 49 employees

    May 15, 2023

    Employers with 5 to 14 employees

    June 30, 2023

     

    Employer eligibility

    All Colorado employers are required by law to facilitate Colorado SecureSavings if they don’t offer a retirement plan for their employees. Sign-up is quick, easy, and free. Don’t wait until your registration deadline. You can join now.

    Registration information

    You’ll be notified by Colorado SecureSavings when it’s time for your business to register. To begin, you’ll need:

    • Your Federal Employer Identification Number (EIN)
    • The Colorado SecureSavings Access Code from your notification

    Not sure of your deadline?

    Check your notice or contact us at
    1-844-692-1073

    If you offer a qualified retirement plan:  You basically need to attest that you don't have to participate - 

    What is a qualified, employer-sponsored retirement plan?

    A qualified, employer-sponsored retirement plan includes a plan qualified under Internal Revenue Code sections 401(a) (including a 401(k) plan), qualified annuity plan under section 403(a), tax-sheltered annuity plan under section 403(b), Simplified Employee Pension plan under section 408(k), a SIMPLE IRA plan under section 408(p), or governmental deferred compensation plan under section 457(b). It does not include payroll deduction IRAs.