Retirement Program One of Fastest-Growing in the Country
Nov. 3, 2025 (DENVER) — The Colorado Department of the Treasury won a national award for expanding access to retirement savings in Colorado and across the country.
The 2025 Excellence in Innovation Award honored the Colorado SecureSavings Program and the Partnership for a Dignified Retirement (PDR), a multistate consortium spearheaded by the Colorado Treasury. The award recognizes outstanding achievement in financial inclusion and program innovation.
“Since day one, my administration has focused on helping all Coloradans save for a strong financial future,” said Colorado State Treasurer Dave Young. “By founding the Partnership for a Dignified Retirement, our mission has grown from a handful of local businesses to a genuine national movement. With every paycheck, we are empowering tens of thousands of workers to achieve financial independence and build stronger, more resilient communities.”
Colorado SecureSavings is one of the fastest-growing auto-IRA programs in the nation. Administered in collaboration with the Colorado SecureSavings Board, the program provides eligible workers access to Roth IRAs that travel with them from job to job.
Since its launch in January 2023, the program has enrolled more than 17,200 participating businesses and 90,000 savers who have collectively amassed over $165 million in assets. The Colorado Treasury also leads PDR, a consortium of state-facilitated, auto-IRA programs that enables partner states to fast-track procurement and implementation.
“I am so proud of the progress we have made as a program and a consortium,” said Hunter Railey, Executive Director of the Colorado SecureSavings Program. “We have dramatically transformed the retirement landscape—and we’re just getting started. Through shared investing and record-keeping services, we are driving down costs for savers while substantially reducing startup costs for states across the country.”
PDR provides an innovative structure to expand retirement savings opportunities. The consortium currently comprises five states—Colorado, Nevada, Vermont, Maine, and Delaware–with Minnesota expected to join in the coming weeks.
The partnership manages about 130,000 retirement accounts, surpassing $200 million in total savings. Vestwell, in partnership with BNY, provides recordkeeping, custodial, and administrative services to all employers and employees in partner states.
“Congratulations to Treasurer Young, the Colorado SecureSavings team, and all partners on this well-deserved recognition,” said Douglas Magnolia, Chief Revenue Officer & President, Vestwell Government Savings. “Colorado’s pioneering launch of the nation’s first interstate retirement program has demonstrated what’s possible when policy leadership meets innovative technology. This award is a testament to their vision and commitment to ensuring more Americans have access to the savings tools they need for long-term security. We are proud to support their leadership in building a stronger future for workers across the country.”
The award affirms auto-IRA programs as a successful strategy to narrow the retirement savings gap. Over 20 million Americans–including 930,000 Coloradans–lack access to a savings plan through their employer, according to the Georgetown University Center for Retirement Initiatives. By encouraging early savings, states can decrease reliance on safety net programs in future years—a tax burden projected at $18 billion in Colorado alone.
“As the first state to design and launch a multi-state consortium in 2023, Colorado showed remarkable vision in recognizing that collaboration can drive better outcomes—faster program launches, lower costs, and greater savings opportunities for workers,” said Angela Antonelli, Research Professor and the Executive Director of the Center for Retirement Initiatives at Georgetown University’s McCourt School of Public Policy. “Colorado’s Partnership for a Dignified Retirement is a national model for how states can work together to expand retirement access and strengthen retirement security across the country, with impressive growth in assets and new savers to date.”
For more information, visit coloradosecuresavings.com
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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.
About the Excellence & Innovation Awards
The 14th annual Excellence & Innovation Awards, hosted by the Defined Contribution Institutional Investment Association and Pensions & Investments Magazine, honors outstanding achievement in advancing creative, effective solutions that strengthen retirement security and expand access to savings opportunities. The 2025 award ceremony was held on Oct. 28th during the Defined Contribution West conference in Pasadena, CA.