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Program details

Registration will open for all eligible employers in 2025

Once the program launches, all eligible New York employers are required by state law to facilitate New York Secure Choice if they don’t offer a retirement plan for their employees.

How do I get started?

You’ll be notified by New York Secure Choice when it’s time for your business to register. To begin, you’ll need:

  • Federal Employer Identification Number (EIN)

  • New York Secure Choice Access Code from your notification

Employer eligibility

You’re required to register and facilitate the program if you:

  • Have 10 or more employees

  • Do not offer a qualified retirement plan

  • Have been in business for at least two years

Your responsibilities as an employer

We know that running your business is your top priority. That’s why New York Secure Choice is easy to set up and requires only light account maintenance. We’ll take care of the rest, at no cost to you.

Register

Set up your ID and password, answer questions about your company and payroll process, complete payment setup, and then add your employees.

You can even invite a payroll representative to help you facilitate this process. Your payroll representative can be an admin, a teammate, or even your bookkeeper or payroll administrator.

Send Contributions

Once you have added employees, we will communicate directly with them to explain their options during the 30 days they have to opt out or customize their account.

At the end of the 30-day period, you will record their choices, begin payroll deductions, and submit contribution information and funding for the employees who choose to stay in the program.

Maintenance

Continue to send payroll contributions and maintain employee records, including updating contribution rate changes when needed, adding new employees, and marking former employees as terminated.

Things you won’t be responsible for:

  • Establishing your employees’ New York Secure Choice Roth IRA.

  • Answering questions about New York Secure Choice and its investment options, or helping employees choose investments.

  • Managing New York Secure Choice investment options and processing employee investment change requests.

  • Processing distributions from employee investment accounts.

  • Managing employee investment account changes. Your employees will be responsible for maintaining their account information and settings if enrolled.

Already offer a retirement plan?

New York Secure Choice applies only to employers that don’t offer a qualified retirement savings plan for their staff. If you already offer one and receive a notification from New York Secure Choice when the program launches, use your unique Access Code and EIN to certify your exemption.

The New York State Secure Choice Savings Program (“New York Secure Choice") is an automatic enrollment payroll deduction retirement savings program overseen by the New York Secure Choice Savings Program Board (“Board”). Vestwell State Savings, LLC (“Vestwell”), is the program administrator. Vestwell and The Bank of New York are responsible for day-to-day program operations. Participants who use New York Secure Choice beneficially own and have control over their Roth Individual Retirement Accounts (“IRA”), as provided in the program offering set out at NewYorkSecureChoice.com.

New York Secure Choice offers investment options selected by the Board. For more information on New York Secure Choice investment options, go to NewYorkSecureChoice.com. Account balances in New York Secure Choice will vary with market conditions and are not guaranteed or insured by the Board, the State of New York, the Federal Deposit Insurance Corporation (“FDIC”), or any other organization.

New York Secure Choice is a completely voluntary retirement program. Saving through a Roth IRA will not be appropriate for all individuals. Employer facilitation of New York Secure Choice should not be considered an endorsement or recommendation by your employer of New York Secure Choice, Roth IRAs, or the investment options offered in the program. Roth IRAs are not exclusive to New York Secure Choice and can be obtained outside of the program and contributed to outside of payroll deduction. Contributing to a New York Secure Choice Roth IRA through payroll deduction offers some tax benefits and consequences. However, not everyone is eligible to contribute to a Roth IRA.

Vestwell does not provide legal, financial, tax, or investment advice. Program participants should consider obtaining their own appropriate professional advice if you have questions related to taxes or investments before making any decisions regarding their participation or investment in the program.

The New York Secure Choice name and the New York Secure Choice logo are trademarks of the Board and may not be used without permission.