If you’re operating a business in New York State, starting in 2026, there is new action you’ll be required to take regarding employee retirement savings. As you plan ahead, keep in mind that you have a choice — you can partner with a retirement plan provider instead of using the state-mandated program.
Why New York Is Requiring a Retirement Plan
State-mandated retirement plans have been introduced in recent years to help solve a growing retirement savings gap across the U.S. These programs apply to private-sector employers that do not currently sponsor their own retirement plan.
New York is the latest state to launch such an initiative with its version, the New York Secure Choice Savings Program.
What Is the New York Secure Choice Savings Program?
Under New York Secure Choice, participating employers must upload employee census data to the state-sponsored platform. This allows employees to be automatically enrolled in the mandatory savings plan, which integrates directly with payroll.
Employees will be automatically enrolled at a 3% contribution rate in a Roth IRA, unless they proactively opt out.
Key Registration Deadlines for Employers
The deadline for registering with New York State or partnering with your own retirement plan provider depends on your company size:
- 30 or more employees: March 18, 2026
- 15–29 employees: May 15, 2026
- 10–14 employees: July 15, 2026
Note: Exempt businesses must still certify their exemption with New York State by the deadlines listed above.
Why Consider a Partner Instead of the State Plan
As you evaluate what’s best for your business and your employees, consider the advantages of partnering with Pinnacle Employee Services (PES).
Our 401(k) team handles all administrative responsibilities, compliance work, and fiduciary duties, leaving your business liability free while empowering employees to save and plan for retirement.
Choosing Pinnacle Employee Services can help you:
- Save time and money
- Maintain control over your retirement benefits strategy
- Provide employees with a trusted, high-value retirement plan
- Focus on operating and growing your business
Need help navigating New York’s new retirement requirements?
Contact Pinnacle Employee Services to explore your options and stay compliant before the 2026 deadlines.
Securities and advisory services offered through Pinnacle Investments, LLC member FINRA/SIPC.
