Deadlines Approaching for Business Owners Regarding Colorado SecureSavings Program

The American Portfolios Denver team continues to field numerous requests from Colorado business owners wanting to learn more about the new Colorado SecureSavings Program that launched earlier this year. 

This state-run program requires all businesses in Colorado with 5 or more employees to offer a retirement savings plan that helps employees save through payroll deduction. 

The deadlines to enroll your business in this state program or certify your exemption by offering another company-sponsored retirement plan are as follows:

• March 15 Deadline for companies with 50+ employees
• May 15 Deadline for companies with 15-49 employees
• June 30 Deadline for companies with 5-14 employees 

After reviewing the details of the Colorado SecureSavings Program, we think it’s an option for smaller employers looking to offer a basic, one-size-fits-all retirement solution to their employees. However, a traditional employer-sponsored retirement program may be better suited for employers seeking a more comprehensive solution catered to their specific needs. 

In addition to traditional 401(k) retirement saving plans, the American Portfolios Denver team also offers many other company-sponsored retirement plan options, and we partner with dozens of platform providers to help find a good fit for each of our business clients based on their company’s unique needs. 

We’re here to help you understand the options for your business and help guide you to a retirement solution that can work for your company and your employees.