Are You Prepared for the Implementation of the Colorado SecureSavings Program?

Are You Prepared for the Implementation of the Colorado Secure Savings Program?

In 2020 Colorado passed the SecureSavings program.  The goal of this mandate is to give access to a retirement savings account for employees through their employers.   Here in Colorado, more than 40% of our private-sector workforce does not have access to a retirement savings plan at work — nearly 940,000 workers. This law mandates that small business owners enroll in a state-run retirement savings plan.  This will be required for all employers in 2023.  Colorado SecureSavings retirement savings program, was created by the Colorado SecureSavings Board in the Office of the State Treasurer. 

You are required to implement this program if:
* You have 5 or more employees
* Have been in business for two or more years
* Don't have an existing qualifying plan.

For more information:  https://coloradosecuresavings.com/employers

If you need help, please reach out to your CPA, if you don't have one, we do:  https://business.castlerock.org/list/search?q=CPA&c=&l=&fl=10&sa=False

You can also talk to your financial advisor, again, we have those too:  https://business.castlerock.org/list/category/financial-advisor-915

Be prepared and don't be caught off guard.  It is better to be proactive then reactive.