Colorado SecureSavings Program FAQs

Effective 2023, all Colorado employers who have been in business for at least 2 years, have 5 or more employees, and don’t offer a qualified retirement plan for their employees are required by law to facilitate Colorado SecureSavings.

We're still compiling answers and resources that are relevant to our clients and their employees. In the meantime, we recommend that employers call 1-844-692-1073 or email for direct assistance. Their support team is friendly, knowledgeable, and very responsive.

CO SecureSavings Resource Quick Links

What is Colorado SecureSavings?

The Colorado SecureSavings Program offers employees a Roth Individual Retirement Account (IRA) if their employer does not provide retirement benefits. Employers are neither required nor permitted to match employee contributions to the CO SecureSavings program, but they will need to facilitate the program for employees with Colorado income.

Employers are responsible for registering a CO SecureSavings account and enrolling eligible employees. Employees are responsible for changing their withholding percentage (default rate is 5% of gross earnings) or opting out (they may opt back in at any time).

How do I know if I'm required to participate in Colorado SecureSavings?

If you have five or more W-2 employees, you'll receive a notice from Vestwell State Savings, the program's administrator, when it's time to register your organization for CO SecureSavings. You must register an account or certify exemption to opt out if you offer a qualified retirement plan or have fewer than 5 employees*.

Employers are required to facilitate the Colorado SecureSavings retirement savings program if:
  • The business is registered to conduct business in the state of Colorado
  • They have at least five W-2 employees who have worked for them for at least 180 days
  • They have been in business for two or more years; and
  • They don’t currently offer a qualified retirement savings program to employees

* Determining employee count for seasonal employers can be tricky since the 180-day lookback period is not clearly defined. If you’re on the fence, we recommend registering and claiming an exemption as an employer with fewer than 5 employees.

Can I add ASAP as an administrator to my CO SecureSavings account?

Yes, you can invite ASAP as an account administrator. Please let us know via email if you'd like our assistance with deductions and reporting payroll information to the agency (service charges may apply.) 

To add ASAP to your account, enter in the "Add Teammate" pop-up box and click "Send Email Invite." Step-by-step instructions >>