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State Retirement Program Mandates: What States Have Them and When Do They Take Effect?

State Retirement Program Mandates: What States Have Them and When Do They Take Effect?

Last Updated: February 27, 2024

The following 19 states have enacted retirement savings programs to help individuals save for retirement. Program mandates, structure, and roll-outs vary, so it's essential to understand how these developments may apply to you. Select your state to see the program status and details—or browse them all below.

AlaskaAKHawaiiHIAlabamaALArkansasARArizonaAZCaliforniaCAColoradoCOConnecticutCTDelawareDEFloridaFLGeorgiaGAIowaIAIdahoIDIllinoisILIndianaINKansasKSKentuckyKYLouisianaLAMassachusettsMAMarylandMDMaineMEMichiganMIMinnesotaMNMissouriMOMississippiMSMontanaMTNorth CarolinaNCNorth DakotaNDNebraskaNENew HampshireNHNew MexicoNMNevadaNVNew YorkNYOhioOHOklahomaOKOregonORPennsylvaniaPARhode IslandRISouth CarolinaSCSouth DakotaSDTennesseeTNTexasTXUtahUTVirginiaVAVermontVTWashingtonWAWisconsinWIWest VirginiaWVWyomingWYNew JerseyNJLEGISLATION PASSED & PROGRAMS LAUNCHEDLEGISLATION PASSED & LAUNCH TBDLEGISLATION INTRODUCED IN LAST 10 YEARSNO LEGISLATION UNDER CONSIDERATION

California

Name: CalSavers

Type: Auto-IRA

Mandate: California employers who do not offer a qualified, employer-sponsored retirement plan and have 1+ employee(s) must offer a plan.

Timing: As of June 30, 2022, businesses with 5+ employees must have complied. The registration deadline for employers with 1-4 employees is December 31, 2025.

Penalties/Credits: The penalties for noncompliance are $250 per eligible employee after 90 days and an additional fee of $500 per eligible employee after 180 days.

Colorado

Name: Colorado Secure Savings Program

Type: Auto-IRA

Mandate: Colorado employers that have been in business for 2+ years with 5+ employees that don’t offer a qualified, employer-sponsored retirement plan must offer a plan.

Timing: The registration deadlines for all businesses with 5+ employees have passed. The deadline for businesses with 50+ employees passed on March 15, 2023; the deadline for businesses with 15-49 employees passed on May 15, 2023, and the deadline for 5-14 employees passed on June 30, 2023.

Penalties/Credits: Eligible employers must offer a plan or face a fine of up to $100 per eligible employee per year (up to a max of $5,000 annually).

Connecticut

Name: MyCTSavings

Type: Auto-IRA

Mandate: Connecticut businesses with 5+ employees who are paid more than $5K each in the calendar year must offer a plan unless the business already offers a qualified, employer-sponsored retirement plan.

Timing: The registration deadlines for all businesses with 5+ employees have passed.

Penalties/Credits: Non-compliance may result in an investigation and penalties.

Delaware

Name: Delaware Earns

Type: Auto-IRA

Mandate: Once operational, companies with 5+ employees that have been in business in Delaware for 6+ months must offer a plan unless the business already offers a qualified, employer-sponsored retirement plan.

Timing: Signed into law in August 2022, Delaware EARNS is scheduled to begin in January 2025.

Penalties/Credits: Eligible employers must offer a plan or face a penalty of $250 per eligible employee per year (up to a max of $5,000 annually).

Program details and penalties are subject to change as the program is not yet operational.

Hawaii

Name: Hawaii Retirement Savings Program

Type: IRA

Mandate: Once operational, companies with 1+ employee(s) that have been in business for 2+ years must offer a plan unless the business already offers a qualified, employer-sponsored retirement plan.

Timing: Signed into law in August 2022, the program is expected to be up and running by July 1, 2024.

Penalties/Credits: Covered employers must enroll employees who opt-in or pay a penalty of $25 for each month that the employee was not enrolled in the program, and $50 for each month the employee continues to be unenrolled after the penalty has been given. Employers must also deposit the amount that would have been contributed by the employee into the employee's account.

Program details and penalties are subject to change as the program is not yet operational.

Illinois

Name: Illinois Secure Choice Retirement Program

Type: Auto-IRA

Mandate: Illinois businesses with 5+ employees that have been in operation for 2+ years and do not offer a qualified, employer-sponsored retirement plan must offer a plan.

Timing: The registration deadline has passed for employers with 5+ employees.

Penalties/Credits: Eligible employers must offer a plan or face a fine of $250 per eligible employee for the first calendar year and $500 per eligible employee each subsequent calendar year.

Maine

Name: Maine Retirement Savings Program

Type: Auto-IRA

Mandate: Maine employers with 5+ employees that have been in business 2+ years and have not offered a qualified, employer-sponsored retirement plan at any time in the past 2 calendar years must offer a plan.

Timing: The deadline for employers with 15 or more employees is April 30, 2024, and the deadline for employers with 5-14 employees is June 30, 2024.

Penalties/Credits: Penalties for employer non-compliance begin July 2025.

Maryland

Name: Maryland $aves

Type: Auto-IRA

Mandate: Maryland employers with automatic payroll processing that have been in business for 2+ years and do not offer a qualified, employer-sponsored retirement plan must offer a plan.

Timing: The program became available on September 15, 2022. Deadlines are still forthcoming.

Penalties/Credits: Every year that a business is enrolled, the Maryland Department of Assessment and Taxation will waive its $300 annual report filing fee.

Massachusetts

Name: CORE Plan

Type: Multiple Employer Plan (MEP)

Mandate: Voluntary. All Massachusetts-based nonprofit organizations with less than or equal to 20 employees are allowed to participate.

Timing: The CORE plan launched in October 2017 and is currently open for employer registration and employee enrollment.

Penalties/Credits: N/A

Minnesota

Name: Secure Choice Retirement Program

Type: Auto-IRA

Mandate: Mandatory for employers with 1+ employee(s) that have been in business for 1+ year(s) and do not already offer a qualified, employer-sponsored retirement plan.

Timing: The program is expected to be up and running by October 1, 2024.

Penalties/Credits: Non-compliance may result in penalties.

Missouri

Name: Missouri Workplace Retirement Savings Plan

Type: Multiple Employer Plan (MEP)

Mandate: Voluntary.

Timing: The plan is required to start by September 1, 2024.

Penalties/Credits: N/A

Nevada

Name: Nevada Employee Savings Trust

Type: Auto-IRA

Mandate: Mandatory for employers with 5+ employee(s) that have been in business for at least 36 months and have not offered a qualified, employer-sponsored retirement plan in the three years immediately before the plan's start date.

Timing: The Nevada Employee Savings Trust program is expected to launch on July 1, 2025.

Penalties/Credits: To be determined.

New Jersey

Name: New Jersey Secure Choice Savings Program

Type: Auto-IRA

Mandate: New Jersey businesses with 25+ employees (including leased employees) that have been in business 2+ years and do not offer a qualified, employer-sponsored retirement plan must offer a plan. Employers with less than 25 employees or who have been in business for less than 2 years can join voluntarily but are not required to do so.

Timing: To be determined, as the program is not yet operational.

Penalties/Credits: Eligible employers that don’t offer a plan within 1 year will receive a written warning from the government. Each subsequent year of non-compliance will result in the following penalties:

  • 2nd year: $100 per employee
  • 3rd and 4th years: $250 per employee
  • 5th year and beyond: $500 per employee

Program details and penalties are subject to change as the program is not yet operational.

New Mexico

Name: New Mexico Work and Save Program

Type: Voluntary Marketplace

Mandate: Voluntary. All companies with their primary place of business located in New Mexico are eligible.

Timing: The New Mexico Work and Save program is expected to launch on July 1, 2024.

Penalties/Credits: N/A

New York

Name: New York State Secure Choice Savings Program

Type: Auto-IRA

Mandate: New York employers with 10+ employees who have been in business for 2+ years and have not offered a qualified, employer-sponsored retirement plan in that time are required to enroll their employees in a plan.

Timing: Launch date and registration deadlines to be determined.

Penalties/Credits: To be determined.

Oregon

Name: OregonSaves

Type: Auto-IRA

Mandate: All employers that don’t already offer a qualified, employer-sponsored retirement plan.

Timing: OregonSaves is live and mandatory for all businesses with 3+ employees. The registration deadline for employers with 1-2 employees and businesses that utilize a Professional Employer Organization (PEO) or Leasing Agency is July 31, 2023.

Penalties/Credits: Eligible employers must offer a plan or face a fine of up to $100 per eligible employee per year (up to a max of $5,000 annually).

Vermont

Name: VTSaves

Type: Auto-IRA

Mandate: Employers with 5+ employees who do not offer a qualified, employer-sponsored retirement plan will be required to offer a plan.

Timing: The phased rollout is scheduled to begin in 2025. The deadline for businesses with 25+ employees is July 1, 2025; the deadline for businesses with 15-24 employees is January 1, 2026; and the deadline for businesses with 5-14 employees is July 1, 2026.

Penalties/Credits: The maximum penalty for non-compliance before October 1, 2025, is $10 per employee. Between October 1, 2025, and September 30, 2026, the maximum penalty per employee will be $20. On or after October 1, 2026, the maximum penalty per employee goes up to $75.

Program details and penalties are subject to change as the program is not yet operational.

Virginia

Name: RetirePathVA

Type: Auto-IRA

Mandate: Mandatory for companies with 25+ employees that have been in business for 2+ years and do not already offer a qualified, employer-sponsored retirement plan.

Timing: Businesses eligible in 2023 must register for the program or certify an exemption before February 15, 2024. Eligible employers can register as soon as they receive their notification and Access Code.

Penalties/Credits: Eligible employers who fail to respond before the registration deadline may face an annual penalty of up to $200 per eligible employee.

Washington

Name: Small Business Retirement Marketplace (run by the Washington State Department of Commerce)

Type: Voluntary Marketplace

Mandate: Voluntary.

Timing: Already live.

Penalties/Credits: N/A

Pending State Mandates

Additionally, Arizona, Arkansas, Idaho, Indiana, Iowa, Kentucky, Louisiana, Montana, Nebraska, New Hampshire, North Carolina, North Dakota, Ohio, Oklahoma, Pennsylvania, Rhode Island, Tennessee, Utah, West Virginia, Wisconsin, and Wyoming have all introduced legislation but no word yet on when or if they will offer plans.

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