Colorado SECURE Savings Begins Next Month

Beginning in early 2023, most  employers without a retirement plan offering will be required to enroll in the Colorado SecureSavings program and automatically sign up their employees for a 5% payroll deduction to contribute to their savings accounts. The funds will be contributed to a Roth IRA for the employee. Employees will be able to opt out or change their savings rate if they wish. Employers will receive an official registration notice in early 2023 which they will use to set up their online account, where they will enroll their employees. There is no employer contribution or cost except for the cost of setting up and maintaining the account. Go to www.coloradosecuresavings.com for more information.