New York Secure Choice: Essential Employer Guide for 2026 Compliance

Are you prepared? 

On Oct. 8, New York officially launched the New York Secure Choice Savings Program. It’s a state-sponsored, automatic-enrollment Roth IRA program designed to expand retirement savings access for millions of private-sector employees. Participation will soon be mandatory for many employers without an existing workplace retirement plan. 

Who needs to comply

Businesses that meet all the following criteria must register for the program and participate: 

• have 10 or more employees in New York during the previous calendar year; 

• have been in business for at least two years; and 

• do not currently offer a retirement plan. 

Key deadlines 

Employers will receive notice from the state with registration instructions, but 2026 deadlines will come quickly: 

• 30+ employees: March 18 

• 15 to 29 employees: May 15 

• 10 to14 employees: July 15 

Employers have nine months from notification to register and begin facilitating payroll deductions. Learn more about the program details and registration process. 

Penalties for missing deadlines 

Failure to comply can result in fines starting at $250 per employee, rising to $1,000 per employee for repeated violations. 

• First violation: $250 per employee. 

• Second violation within two years: $500 per employee. 

• Third violation: $1,000 per employee. 

• Continued violations after the third: $1,000 per employee. 

• Additional $100 per employee for missing recordkeeping. 

Employer responsibilities (and what you’re not responsible for) 

Facilitating Secure Choice is simple and free, as employers are only required to handle basic administrative tasks, such as enrolling employees, processing payroll deductions and sharing program information. There are no employer contributions and no fiduciary responsibility for investment outcomes. 

Employers are not responsible for: 

• setting up or managing employee IRA accounts; 

• handling investment changes or distributions; or 

• providing investment advice. 

Employees own their accounts, manage their own investment choices and can opt out anytime. 

Preparing now can save you stress later 

Although Secure Choice’s deadline may feel distant, 2026 is almost here. You might not need to solve this problem until the state knocks on your door — but planning now means you’ll have options.  

Don't wait until the last minute when many service providers may be overloaded and overwhelmed. At TruePlan, we help organizations get ahead of state mandates by exploring alternatives that better fit your workforce and business goals.  

Talk to us today and let’s build a retirement plan strategy that helps keep you compliant and competitive. 

This content is for informational purposes only.  We recommend you review the program details linked above.  We are not attorneys; as such we do not and cannot provide legal advice.  Additionally, our summary has been partially generated from an AI language model, which may not always be exhaustive or tailored to individual circumstances. We encourage you to contact one of our experts for more information. We assume no liability arising from any use of this content.