Colorado has created a state-sponsored retirement savings program for private sector employees who are not already participating in an employer-sponsored retirement savings plan. The program is called the “Colorado SecureSavings Program.” It permits employee payroll deductions, but does not require, or accept, employer contributions. Except for some minimal recordkeeping, the Program is intended not to create financial or administrative obligations for employers.
What are employers required to do?
Employers that have been in business at least two years and that had five or more employees at any time during the previous calendar year are required to register with the SecureSavings Program using the on-line portal: https://coloradosecuresavings.vestwell.com/register/employer
Colorado Livestock Association has commissioned a FAQ sheet on this from attorneys at RANGE law.
If you have additional questions please contact the CLA office at office@coloradolivestock.org or by phone (970) 378-0500.
