Colorado: Mandatory Retirement Savings Program Coming in 2023


All CO Employers with 5+ Employees





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In 2023, all Colorado businesses with five or more employees (who have worked for at least 180 days), and who have been in business for two or more years, must register for SecureSavings.  If employers already offer a tax-qualified retirement savings plan to any employees, they can file an exemption once they are registered.


The program uses automatic enrollment and savings through payroll deductions to allow employees to contribute to a Roth Individual Retirement Account (IRA) directly from their paychecks. The program defaults to a 5% contribution rate, but employees may change their contributions upon enrollment. If they change jobs, their account goes with them. However, employees can choose to opt-out within 30 days of being added to the program.


There are no employer fees to participate in the program. Also, employers do not match employee contributions to the program. Colorado SecureSavings will be fully available across the state in early 2023. Employers should expect to receive instructions on how to register.


Action Items

  1. Review the SecureSavings program here.
  2. Prepare to register and review the FAQs here.
  3. Subscribers can call our HR Hotline at (833) 268-5531 for further assistance.

Disclaimer: This document is designed to provide general information and guidance concerning employment-related issues. It is presented with the understanding that ManagEase is not engaged in rendering any legal opinions. If a legal opinion is needed, please contact the services of your own legal adviser. © 2022 ManagEase