After discussion and delay, New York State has officially put dates on the calendar for its retirement plan mandate. The New York Secure Choice Savings Program launched in October 2025, and 2026 is the year when retirement plan compliance becomes mandatory for many private-sector employers across the state.

For business owners—especially those with 10 to 50 employees—this isn’t just another HR headline. These deadlines require action, whether that means enrolling in the state program or confirming that you already offer a qualified retirement plan such as a 401(k).

Below is what New York employers need to know, key deadlines to track, and why many small businesses may want to consider a private 401(k) plan instead of defaulting to the state option.

New York’s Retirement Mandate: A Quick Overview

New York’s Secure Choice Savings Program is designed to expand access to retirement savings for workers who don’t currently have an employer-sponsored plan. If your business meets the eligibility criteria and does not already offer a qualified retirement plan, participation is no longer optional.

Who is affected?

You are subject to the mandate if you:

• Are a private-sector employer
• Have at least 10 employees
• Have been in business for two or more years
• Do not currently offer a qualified retirement plan (such as a 401(k), 403(b), or similar)

If you already offer a qualified plan, you are not required to enroll, but you must certify an exemption with the state.

Official Compliance Deadlines for 2026

New York has adopted a staggered compliance schedule based on employer size. These dates represent when action must be taken—either by registering for Secure Choice or certifying an exemption.

Key 2026 Deadlines:

• March 18, 2026
  Employers with 30 or more employees
• May 15, 2026
  Employers with 15–29 employees
• July 15, 2026
  Employers with 10–14 employees

Waiting until the last minute can create unnecessary administrative pressure. Employers should begin evaluating their options now, ahead of their applicable deadline.

What Is the Secure Choice Program?

At its core, Secure Choice is a state-facilitated Roth IRA program with automatic enrollment for employees.

Key characteristics include:

• Employees are automatically enrolled unless they opt out
• Contributions are made via payroll deductions
• Accounts are Roth IRAs, not employer-sponsored retirement plans
• Employers have limited responsibilities but also limited flexibility
• No employer contributions are permitted

Secure Choice is intended as a baseline option—ensuring access where none exists—but it was never designed to replace a robust employer-sponsored retirement benefit. Employers should also be thinking strategically about how retirement benefits fit into broader talent retention and compliance planning.

As retirement plans move from optional to mandatory, retirement benefits are no longer just a nice-to-have perk—they are quickly becoming required in state after state, and the choices businesses make today will impact their competitive position tomorrow.

Why “Checking the Box” May Not Be the Best Strategy

For some employers, Secure Choice may seem like the simplest path to compliance.  But simplicity often comes with trade-offs—especially when it comes to recruiting, retention, and long-term strategy.

With retirement mandates trending, employers who go beyond minimal compliance and offer a qualified retirement plan like a 401(k) can deliver stronger outcomes for both compliance and workforce strategy.

This is where many small and mid-sized businesses are taking a closer look at private 401(k) plans built specifically for SMBs.

Private 401(k) vs. Secure Choice: Key Differences

 

1. Stronger Recruiting and Retention Value

Employees recognize a 401(k) as a true employer-sponsored benefit. In contrast, state IRA programs are often viewed as a fallback option. A private plan signals long-term investment in your people—something that matters in competitive labor markets.

2. Employer Contributions (Optional, but Powerful)

Unlike Secure Choice, a private 401(k) allows:

• Employer matches
• Profit-sharing contributions
• Flexible plan designs aligned with business goals

These features can significantly boost employee participation and satisfaction.

3. Higher Contribution Limits

401(k) plans allow employees to save far more annually than Roth IRAs. For employees focused on retirement readiness, this difference is substantial.

4. Tax Advantages for Employers

Private 401(k) plans can unlock:

• Federal tax credits for plan startup costs
• Ongoing tax deductions for employer contributions
• Potential state-level advantages depending on structure

Secure Choice offers none of these employer-level incentives.

5. Designed for Small Businesses—Not Just Compliance

Modern SMB-focused 401(k) plans are built to be:

• Easy to administer
• Integrated with payroll
• Supported by dedicated service teams
• Scalable as your business grows

Rather than reacting to mandates one state at a time, a private plan provides a future-ready solution.

Compliance Today, Strategy for Tomorrow

New York’s retirement mandate is about compliance—but your response doesn’t have to stop there. Employers who take a proactive approach can turn a regulatory requirement into a competitive advantage.

Instead of asking, “What’s the minimum we need to do?”, many businesses are asking:

• How can we offer a benefit employees actually value?
• How do we stay ahead of similar mandates in other states?
• How can retirement benefits support our long-term growth?

A private, small-business-friendly 401(k) plan can answer all three.

Take Action Before Your Deadline

With official deadlines now set for 2026, New York employers should start planning now—especially if you don’t currently offer a retirement plan.

Whether you’re evaluating Secure Choice or exploring a private 401(k) option, the most important step is to act early, understand your obligations, and choose a solution that supports both compliance and your business goals.

Learn how Asure helps small businesses offer simple, compliant 401(k) plans designed to grow with them—and meet state mandates with confidence. Explore Asure Retirement Solutions.