News & Analysis as of

Retirement Plan Secure Choice Savings Program

Tannenbaum Helpern Syracuse & Hirschtritt LLP

New Jersey Employers Must Act Soon: Are you Ready for RetireReady NJ?

Most employers with at least 25 employees in New Jersey that do not already offer a qualified retirement plan must soon take action to enroll their employees in the state’s “RetireReady NJ” retirement savings program. This...more

Ogletree, Deakins, Nash, Smoak & Stewart,...

Colorado Implements SecureSavings Program for Employees Without Access to Employer-Sponsored Retirement Plans

Beginning in 2023, Colorado employees whose employers do not offer a retirement plan will have access to an optional retirement savings plan through a state-facilitated retirement savings program, the Colorado SecureSavings...more

BCLP

New York State and City Employers Should Prepare to Provide Retirement Plan Options For Their Employees

BCLP on

New York State Employers - In October 2021, New York State (“NYS”) passed legislation, Senate Bill S5395A, amending the New York State Secure Choice Savings Program (the “Program”), a retirement savings plan. The...more

Fisher Phillips

Most New Jersey Employers Must Provide Retirement Savings Programs Starting March 28

Fisher Phillips on

New Jersey employers with 25 or more employees that do not currently sponsor a retirement savings plan will soon be required to facilitate their employees’ enrollment in the New Jersey Secure Choice Savings Program Fund to...more

Amundsen Davis LLC

Illinois Lawmakers Consider Expanding Mandatory Retirement Savings Program To Small Employers

Amundsen Davis LLC on

The Illinois General Assembly is considering a bill (H.B. 117) that would make several amendments to the Illinois Secure Choice Savings Program Act, including extending the requirement to offer employees a retirement savings...more

Laner Muchin, Ltd.

Illinois Small Employers May Need To Register For The Secure Choice Savings Program In November 2019

Laner Muchin, Ltd. on

As we previously reported, Illinois implemented the Illinois Secure Choice Savings Program (Program), under which private sector workers in Illinois who do not have access to an employer-sponsored retirement plan will be...more

Genova Burns LLC

New Jersey is Most Recent State to Require Employers to Enroll Employees in Retirement Savings Programs

Genova Burns LLC on

On March 28, 2019 Governor Phil Murphy signed into law the New Jersey Secure Choice Savings Program Act (“Act”) which establishes a state-run retirement program in the form of automatic employee payroll deductions paid into...more

Jackson Lewis P.C.

What Employers Need To Know About The Illinois Secure Choice Mandatory Retirement Savings Program

Jackson Lewis P.C. on

Employers in Illinois with at least 25 employees must comply with the Illinois Secure Choice Savings Program Act (Secure Choice) or offer employees an employer-sponsored retirement plan. Secure Choice is set to roll out in...more

Allen Matkins

Should California Employers Be Insecure About California’s State-Run Retirement Savings Program?

Allen Matkins on

Last September, California Governor Jerry Brown signed into law SB 1234 (De León) which implements the California Secure Choice Retirement Savings Program. 2016 Cal. Stat. ch. 804. If you haven’t heard of the program,...more

Orrick, Herrington & Sutcliffe LLP

California Employers with Qualified Plans Not Subject to New Secure Choice Program

On September 29, 2016, California Governor Brown approved significant amendments to the 2012 California Secure Choice Retirement Savings Trust Act ("Secure Choice"). Secure Choice is intended to provide Roth IRAs and...more

Franczek P.C.

Illinois Becomes the First State to Require Automatic Retirement Savings Program for Workers Without Access to a Workplace...

Franczek P.C. on

On January 5, 2015, outgoing Governor Quinn signed landmark legislation that created the “Secure Choice Savings Plan” which will give Illinois workers who do not have the option to participate in a workplace retirement...more

Epstein Becker & Green

The New Illinois Secure Choice Savings Program: Considerations for Employers

Epstein Becker & Green on

On January 4, 2015, the governor of Illinois signed into law the Illinois Secure Choice Savings Program Act (S.B. 2758). This law—first of its kind in the nation—requires certain employers to provide an automatic payroll...more

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