New York Secure Choice is a state-facilitated retirement savings program required organizations that do not have an employer-sponsored retirement plan. The program allows employees to save through automatic payroll deductions into a Roth IRA that they own and control. Accounts are portable and remain with employees if they change jobs.
Employers are generally required to participate if they:
- Employ at least 10 employees in New York, and
- Have been in business for at least two years, and
- Do not currently offer a qualified retirement plan.
Covered employers must begin facilitating the program by the following dates:
- March 18, 2026 – 30 or more employees
- May 15, 2026 – 15 to 29 employees
- July 15, 2026 – 10 to 14 employees
Participation in New York Secure Choice does not require employer contributions, nor does it make employers plan fiduciaries. Instead, employers are responsible for administrative coordination, including:
- Registering with the state program by the applicable deadline
- Providing required employee information
- Establishing and maintaining payroll deductions for enrolled employees, and
- Remitting employee contributions and distributing required program notice and opt-out information.
Employees will be automatically enrolled at a default contribution rate of typically 3% of wages, unless they elect to opt out or select a different contribution amount or investment option.
Takeaway
New York Secure Choice introduces a new compliance obligation for covered employers, but it is designed to be low-burden and employee driven. Employers do not fund the benefit or manage investments, but they handle timely registration and payroll coordination.