March 3, 2026
Most NYS and NJ Employers Must Provide Retirement Plans
New York and New Jersey now require most for-profit and non-profit private employers to provide retirement savings programs. Employers can provide this benefit through their own qualified retirement plans or state-administered programs. New York recently implemented its Secure Choice Savings Program, and New Jersey implemented its RetireReady NJ program last year.
Covered Employers
New York’s mandate covers employers with at least 10 employees that have been in business for at least 2 years and do not offer a qualified retirement plan.
Currently, New Jersey’s mandate covers employers with at least 25 employees that have been in business at least 2 years and do not offer a qualified retirement plan. However, effective April 20, 2026, New Jersey’s program will expand to include employers with at least 10 employees who have been in business for at least 2 years and do not offer a qualified retirement plan. In both states, employers who offer a qualified retirement plan can certify that they are exempt from mandatory enrollment in the state program.
How and When to Enroll
Registration is currently open for covered employers.
Employers in New Jersey should have enrolled or certified their exemption by November 15, 2024.
In New York, enrollment is on a rolling schedule. Employers with 30 or more employees must register or certify their exemption by March 18, 2026. For employers with 15 to 29 employees, the deadline is May 15, 2026, and for employers with 10 to 14 employees, the deadline is July 15, 2026.
Employer Obligations
There is no fee to employers to facilitate the program.
Employers will be required to make payroll deductions and submit the contributions of their participating employees. Employers are not required or permitted to match those contributions. While employers must offer participation to employees, upon hire and annually, employees may decline to enroll in each program.
Penalties and Fines for Noncompliance
Employers who fail to enroll or certify their exemption in the Secure Choice or RetireReady program may face penalties or fines from the state. Employers are encouraged to reach out to any Book Law LLP attorney or Charlotte Pramer at cpramer@booklawllp.com with questions or concerns about their obligations to offer a retirement program.
