NY Secure Choice Savings Program Launches March 2026

Beginning in March 2026, New York’s Secure Choice Savings Program (“NY Savers”) will require private-sector employers with 10 or more employees in the previous calendar year, who have been in business for at least two years and do not already offer a qualified retirement plan to facilitate payroll deductions into Roth IRAs for eligible workers. Employers must register based on workforce size, with deadlines of March 18, 2026 for those with 30 or more employees, May 15, 2026 for those with 15 to 29 employees, and July 15, 2026 for those with 10 to 14 employees. Participating employers are responsible for setting up payroll deductions, distributing program materials and opt-out information to employees, and certifying exemption if they already sponsor a qualified retirement plan. Employers are not required to contribute to employee accounts and do not assume fiduciary responsibility. More information is available here.