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New York Mandates Employer Participation in State-Run Retirement Savings Program
Cohen & Buckmann, P.C. 
[Guidance Overview] Nov. 4, 2021 "Nine months after the administrative board establishes the program, private sector employers will be required to participate if they had ten employees in New York during the previous calendar year, have been in business for two or more years, and do not sponsor or otherwise offer access to a qualified retirement plan ... Payroll deductions under the program will be routed to Roth (after-tax) IRAs and invested in one of the investment options selected by the administrative board." |
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