What New York Employers Need to Know About the 2026 NYS Retirement Plan Requirement
If you employ people in New York State, a major compliance deadline is on your horizon. Beginning in 2026, the New York Secure Choice Savings Program (“Secure Choice”) becomes mandatory for many employers who do not already offer a retirement plan- but also requires actions by those that do. And while the rule is straightforward, the details matter — because missing the deadlines will put employers at risk for penalties and corrective actions.
Here’s what you need to know now.
Who Must Comply?
Your business must register for Secure Choice if:
You’ve been in business at least 2 years, and
You had 10 or more New York employees in the previous calendar year, and
You do not currently offer a qualified employer-sponsored retirement plan
(such as a 401(k), SIMPLE IRA, SEP IRA, or 403(b)).
If you do offer a qualified plan, you are exempt, BUT you still need to register AND certify that exemption by your assigned deadline.
Employers with fewer than 10 employees or those in business less than 2 years are not required to participate or register at this time.
What Employers Must Do
Secure Choice is designed to be simple. If you’re required and decide to participate vs. setup an alternative retirement savings plan, your responsibilities include:
Registering through the Secure Choice employer portal. (requird
Providing employee data (name, SSN/ITIN, hire date, wages, etc.).
Setting up payroll deductions so contributions flow into each employee’s Roth IRA.
Submitting contributions on schedule with each payroll run.
Distributing program-provided notices to employees, who are automatically enrolled unless they opt out.
You are not required (or allowed) to match contributions, offer investment guidance, or manage the accounts. The program administrator handles that.
Key Deadlines for 2026
Your registration deadline depends on the number of New York employees you had last year:
30+ employees: March 18, 2026
15–29 employees: May 15, 2026
10–14 employees: July 15, 2026
Mark your date. Missing it can trigger compliance notices and penalties.
What Secure Choice Is — and Isn’t
Secure Choice is:
A state-facilitated auto-enrollment Roth IRA program
Employer-facilitated but employee-owned
A way for employees to save for retirement when the company doesn’t offer a plan
Secure Choice is not:
A 401(k) replacement
A program requiring employer contributions
A plan that creates fiduciary liability for employers
If you prefer to avoid the program altogether, you may establish your own qualified retirement plan and certify exemption instead.
What All Employers Should Do Now
Confirm whether you have a qualified plan that already exists (401k, IRA, etc.) — if so, prepare to register and certify your exemption by the required deadline.
If not, decide whether you want to adopt Secure Choice or implement your own retirement plan instead (we can make provider and other process recommendations)
Identify your company’s deadline based on your NY headcount.
Gather employee demographic and payroll data for registration.
Prepare payroll to handle automatic Roth IRA deductions.
If you’d like help assessing your obligations or implementing a compliant plan, Ally HR Partners can guide you through every step — from confirming eligibility to coordinating with payroll and communicating changes to employees.
This is one of the most important compliance requirements of 2026. Preparing now will make it seamless later.
