Colorado SecureSavings is a state-run retirement savings program that makes it easy for businesses to support their employees’ financial future.
The program is designed for employers that don’t yet offer a retirement plan, giving workers a simple way to save through automatic payroll deduction into a personal Roth IRA. And at no cost to implement with no administrative headaches, it benefits businesses too! Visit the website today to learn more about the program, register your business, and start saving today.
Impact by the Numbers
$110M+
in assets accumulated by savers since the program started two years ago
75,000
funded accounts are active through the SecureSavings program
16,500
employers have registered
54,000
businesses have confirmed offering a retirement plan since the SecureSavings program officially launched, as the law now requires all qualifying businesses to offer one
Why This Matters
In Colorado, nearly 900,000 workers do not have access to a retirement savings plan at work. This means many Coloradans are at risk of reaching retirement without the savings they need. The Colorado SecureSavings Program is a state-run retirement savings program that bridges this gap. It makes it easy for businesses to support their employees' financial future and gives every worker a chance to build a more secure future.
The program is designed for employers that don’t yet offer a retirement plan, giving workers a simple way to save through automatic payroll deduction into a personal Roth IRA. And at no cost to implement with no administrative headaches, it benefits businesses too!
How It Works
Employees are automatically enrolled and can choose to stay enrolled, opt out, or rejoin later. Savings are deducted directly from paychecks, making it simple and consistent. Employees can adjust their contributions or opt out at any time. The program includes tools and resources to help people reach their financial goals.
For businesses, participating is easy. There is no cost and no management of employee accounts. The business simply facilitates payroll deductions. Offering this valuable benefit is a great way to attract and retain employees.
Colorado Leading the Way
Colorado isn’t just helping its own workers, it’s helping lead a national movement. Through the Partnership for a Dignified Retirement, Colorado is teaming up with other states to offer affordable retirement savings options to workers across the country. By working together, states can save money, leverage SecureSavings’ proven model, and expand retirement savings opportunities to more people.
Today, Colorado’s partnership includes Maine, Delaware, Vermont, and Nevada, with more states expected to join in the future. Vestwell, in partnership with BNY Mellon, serves as the program administrator, providing recordkeeping, custodial, and administrative services for employers and employees in participating partner states.