Retirement state mandates

The state of the states

States across the country are proactively investing in the economic future of their citizens by introducing laws that provide state-sponsored retirement savings initiatives. Once legislation is passed, a state-run savings program is launched and employers meeting the legislative criteria such as number of employees (but may vary by state), are required to offer a retirement savings program for their employees to utilize.

Which states have retirement plan mandates?

Many states have already passed legislation mandating state-run retirement programs or are in the process of doing so. Use the map below to learn more about the features, requirements, and deadlines of state-mandated retirement programs throughout the country.

For employers required to satisfy their state’s mandate, the state-sponsored program is not the only option that enables them to do so. Other qualified plan options—like a 401(k), 403(b), or pooled employer plan (PEP)—also meet the requirements outlined by retirement state mandates.

Top 6 Questions Employers are Asking About State-Mandated Retirement Plans

Additional retirement state mandate resources

Ascensus has 40 years of experience providing streamlined IRA administration and 20 years of experience serving public sector clients and is a natural fit to take on the challenges of supporting these new retirement savings solutions. As an industry leader in supporting state sponsored retirement savings programs, Ascensus works closely with certain states to simplify plan and account management, provide consistent education, and offer dedicated support for employer and employee questions. Use these resources to learn more about state-sponsored retirement mandates:

Why are States Beginning to Mandate Small Business Retirement Plans?

Illinois Secure Choice Retirement Savings Program Details

What to Know About CalSavers: California's Retirement Savings Program

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