The New York State Secure Choice Savings Program: Everything You Need to Know

The Empire State is building a brighter future for New Yorkers.

More than half of New York State’s private-sector employees lack access to a workplace retirement plan. To address this gap, most New York business owners may be required by law to offer a qualified, employer-sponsored retirement plan or automatically enroll their employees in the New York State Secure Choice Savings Program.

In this article, we’ll answer some questions you may have about the New York State Secure Choice Savings Program and explain how it affects New York businesses.

How Does New York State Secure Choice Savings Work?

New York State Secure Choice Savings is a state-sponsored savings program created to help employees working in New York build savings for retirement.

New York employees will make contributions to the program through automatic deductions from their paycheck into a Roth individual savings account (Roth IRA) unless they choose to opt out. The money in the account will grow tax-free, and employees won't have to pay income tax on any money they withdraw from their account during retirement.

The program is overseen by the New York Secure Choice Savings Program Board but administered by private sector partners.

Which Businesses Are Affected?

According to the New York State Secure Choice Savings website, employers who meet the following criteria are required to register for the program or certify an exemption:

• Have 10 or more workers
• Have been in business for at least 2 years
• Does not currently offer a qualified, employer-sponsored retirement plan to their employees

Registration Deadline

Program deadlines for businesses are based on company size. The breakdown is as follows:

• Employers with 30 or more employees | March 18, 2026
• Employers with 15 to 29 employees | May 15, 2026
• Employers with 10 to 14 employees | July 15, 2026

Eligible employers will be notified when it's time to register or certify their exemption.

Who Is Eligible to Save With the New York State Secure Choice Savings Program?

Any individual who is 18 years or older and has income or W-2 wages in the state of New York during the calendar year of enrollment is eligible to participate in New York State Secure Choice Savings. Both full-time and part-time employees are eligible.

The program is voluntary for employees, and they can change their contribution amount or opt-out at any time.

Conclusion

The New York State Secure Choice Savings Program represents a notable development in retirement planning for New York workers. Automatic enrollment and contributions made directly through payroll deductions simplify the process of setting aside funds for retirement.

The program requires businesses with 10 or more employees that have been operating for two or more years to either offer a plan or certify an exemption, so it’s important for New York employers to familiarize themselves with the program details and requirements.