Change to the Law in 2026: Many Employers in New York Will Be Required to Register for the State’s Secure Choice Program
The New York Secure Choice Savings Program is a retirement savings program designed to encourage more private sector employers in the state to offer tax-advantaged retirement plans to their employees. Recently, state law was changed. In 2026, many more employers in New York will be required by law to register with the program. Here, our New York City employment attorney explains what companies and organizations in New York should know about the state’s new registration requirements for the Secure Choice Program.
Background: What is the New York Secure Choice Savings Program
Broadly explained, the Secure Choice program is a state-sponsored retirement savings plan for private-sector employees in New York who lack access to a workplace retirement plan. The program creates automatic enrollment in a Roth IRA via payroll deductions for eligible workers. Employees may opt out or adjust contributions. To be clear, employers in New York who facilitate Secure Choice do not contribute or manage investments. Their only tasks are to:
- Register for the program;
- Remit payroll deductions; and
- Maintain the proper records.
Reform in New York State: More Employers Need to Register in 2026
There are big changes coming to the registration requirements for the New York Secure Choice Savings Program in 2026. Many New York employers must register under Secure Choice this coming year. Specifically, registration will be required or employers that meet the following three criteria:
- They have at least 10 employees in New York during the prior calendar year;
- They have been in business for at least two years; and
- They do not already sponsor a qualified retirement plan (such as a 401(k), SEP, SIMPLE IRA, or similar)
Note: Covered employers are subject to registration deadlines that are staggered based on size. Employers with 30 or more employees by March 18th, 2026. Employers with 15-29 employees by May 15th, 2026. Employers with 10-14 employees by July 15th, 2026. Employers who already offer a qualified plan may certify an exemption rather than register.
What Employers in New York Must Do in 2026
Once covered, employers must register using their EIN and access code that the program provides or obtains. After registration, employers must begin payroll deductions for eligible workers who remain enrolled. Default contribution is 3 percent of gross wages. Employees may opt out or change contribution amounts at any time. Employers are not required to match contributions and they are not lawfully permitted to provide investment advice. Beyond that, employers must ensure payroll systems handle deductions and remittance to the Secure Choice custodian. They must maintain records and deliver required notices. Employers should review staffing data, confirm residency and employment status of eligible workers, and communicate clearly with employees about what to expect.
Contact Our New York City Employment Lawyer Today
At Poulos LoPiccolo PC, our New York employment attorney is standing by, ready to protect your rights and your interests. If you have any questions about the New York Secure Choice Program, our labor and employment team can help. Contact us today for a fully confidential case evaluation. We provide employment law services throughout New York City.
Source:
securechoice.ny.gov/
