Certain Colorado Employers Required to Register with Colorado Secure Savings Program

Starting in 2023, certain employers registered to do business in the state are required to participate in the Colorado Secure Savings Program. Those businesses that have five or more W-2 employees, have been in business for at least two years, and do not offer those employees a qualified retirement benefit must register with the program. The program is a government-sponsored savings program to which employees can make contributions via automatic paycheck deductions, which are then deposited into an IRA.

There are different deadlines by which businesses must register with the program, depending upon the size of the employer (as measured by the number of employees in the business). Employers with 50 or more employees must register by March 15, 2023. Employers with 15 – 49 employees must register by May 15, 2023. Employers with 5 – 14 employees must register by June 30, 2023.

Employers who offer qualified retirement programs to their employees can obtain an exemption from this requirement.

Information about the registration process, including how to obtain an exemption, can be found here:

Colorado Secure Savings – Employer Program Details »
Colorado Secure Savings Program Act »
Colorado Secure Savings Website »