Minnesota is the Sixth State to Join the Partnership for Dignified Retirement
Dec. 2, 2025 (DENVER) — The Colorado SecureSavings Program and Minnesota Secure Choice have forged a new partnership to expand access to low-cost, portable retirement savings.
As the newest state to join the Partnership for a Dignified Retirement, Minnesota will now offer state-facilitated retirement options for private sector workers while driving down fees for savers in Colorado and four additional partner states.
“As the partnership grows, we are building real momentum toward a future where every worker can retire with dignity,” said Colorado State Treasurer Dave Young. “Joining forces with Minnesota means more savers, reduced costs, and greater financial security for families across the country.”
Minnesota joins Colorado, Delaware, Maine, Nevada, and Vermont in the Partnership for a Dignified Retirement (PDR), an interstate consortium of state-facilitated, auto-IRA plans founded by the Colorado Department of the Treasury. The partnership collectively has amassed more than $212 million in assets under management, reaching close to 140,000 savers.
“Joining the Partnership for a Dignified Retirement enables the Minnesota Secure Choice Retirement Program to minimize fees to our savers, provide an easy enrollment on-ramp for employers, and successfully launch this innovative program for Minnesotans in January of 2026,” said Chad Roberts, Executive Director of the Minnesota Secure Choice Retirement Program.
The Minnesota legislature created the Minnesota Secure Choice Retirement Program to support employees who lack access to workplace retirement plans. The program, administered by the Minnesota Secure Choice Retirement Program Board, launches in January of 2026 to employers and savers. Employers will enroll in phases based on the number of employees earning taxable Minnesota wages from the employer. All eligible employees will be enrolled in the program but can opt-out of participation on an individual basis.
“The Minnesota Secure Choice Retirement Program is here to make saving for retirement as seamless for employers and savers alike,” Roberts added. “Programs like this give employers an additional workplace benefit to offer employees while creating an opportunity to build retirement security for everyday Minnesotans.”
PDR programs are modeled after Colorado SecureSavings, one of the fastest-growing auto-IRA initiatives in the country. Since launching in January 2023, the Colorado program has signed up over 17,500 businesses and more than 94,000 savers who have accumulated $173 million in assets. Last month, Colorado won a national innovation award for its success in rapidly expanding retirement access.
“The continued expansion of the Partnership for a Dignified Retirement shows the power of interstate collaboration,” said Hunter Railey, Director of the Colorado SecureSavings Program. “By working together, states like Colorado and Minnesota can deliver high quality, affordable retirement savings options that support workers throughout their lifetime."
The retirement programs provide Roth IRA plans that benefit from compound interest, allowing funds to grow faster over time. Vestwell, in partnership with BNY Mellon, serves as the program administrator and provides recordkeeping, custodial, and administrative services for participating partner states.
“Congratulations to Colorado and Minnesota on the launch of the latest interstate retirement savings program, the Minnesota Secure Choice Retirement Program,” said Douglas Magnolia, Chief Revenue Officer and President, Vestwell Government Savings. “With six states now working together, this is the largest coalition of its kind in the country, a powerful model for expanding access to savings and helping more workers build secure financial futures. This progress couldn’t be more timely. Today, nearly 30% of workers in Minnesota lack access to a workplace retirement savings program. By joining the Partnership for a Dignified Retirement, Minnesota is helping to close that gap and ensure more people have a simple, portable way to save for the future. Vestwell is proud to support this effort and the nationwide momentum it represents.
For more information about Minnesota Secure Choice, visit https://securechoice.mn.gov/.
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About the Colorado Department of the Treasury
The Colorado Department of the Treasury is the constitutional guardian of the public’s funds. It is the Treasury’s duty to manage and account for the taxpayers’ dollars from the time they are received until the time they are disbursed. The Treasury’s staff is committed to safeguarding and managing the people’s monies with the same diligence and care as they do their own. For more information, visit colorado.gov/treasury.