Get answers to frequently asked questions

Colorado SecureSavings is a retirement savings program created for Colorado’s nearly 940,000 workers without access to employer-sponsored retirement savings plans. Here are answers to many of the common things we’ve been asked. If you have questions beyond these, we’re here to help.

What do employees need to do after I enroll them?

Your employees will receive information directly from the Colorado SecureSavings program and can choose to stay automatically enrolled in Colorado SecureSavings or opt out; they have 30 days to decide after you add them to the program. If they stay enrolled, the payroll deductions that they elect and that you set up for them in your employer portal will start as soon as your next payroll. If they choose to opt out, they will be removed automatically from the program and can always rejoin later.

What if an employee already has a Colorado SecureSavings account through another employer?

No worries. Just provide basic information about the employee, and Colorado SecureSavings will use the information to direct new contributions to the employee’s existing account.

What does automatic enrollment mean?

It means that if an employee takes no action during the 30 day opt-out window for the program, a Roth IRA will be opened in their name and their payroll contributions will start. Employees who are automatically enrolled in the program will have the default contribution settings elected.

What if an employee asks me for advice about the program or its investment options?

You should not provide any advice about the program or investments. Your responsibility is to facilitate the program only. Instead, advise the employee to visit or call 1-844-711-5001. You could also suggest that the employee speak to a competent financial or tax advisor.

Do employees need to fill out paperwork to enroll or make changes?

Employees are enrolled automatically and do not need to fill out any paperwork. Once enrolled, employees can manage most account functions online. But, if needed, there are paper forms available for certain account changes; these forms can be downloaded, filled out, and sent in. Our customer service team is also available if your employees need any additional help or have other questions.

What do employers need to facilitate the State's program?

To register, you just need your EIN and the Access Code we provide to you via email or letter. After that, you’ll provide your preferred contact information, a list of your employees, and your payroll information. And 30 days later, you’ll need to update your participating employees’ contribution rates within your payroll. From that point on, you’ll just need to keep your employees’ payroll contributions and staff list up to date.

Can I have a designated employee or payroll services provider complete the registration and enrollment process?

Yep. You can elect to add a “Teammate” as an administrator to your account to help facilitate the Colorado SecureSavings program if you choose not to do it yourself. This could be an authorized employee or even staff from your payroll provider. Best of all, the program is designed to work seamlessly with many payroll provider systems.

If I offer Colorado SecureSavings to my employees now and then decide to offer a qualified retirement plan later, what do I do?

Employers that choose to introduce a qualified retirement plan after enrolling employees in the Colorado SecureSavings program should contact our client services team at 1-844-692-1073 and request to “unregister.” We will begin the process of exempting your business from the program and adjusting your employees’ accounts as needed. You should communicate what is happening to your employees and inform participating employees that they can still access their Colorado SecureSavings account after you’ve exempted out of the program.

Which businesses are eligible to participate in Colorado SecureSavings?

You are eligible to participate in the Colorado SecureSavings Retirement Savings Program if:

  • Your business is registered to conduct business in the state of Colorado

  • You have at least five W-2 employees who have worked for you for at least 180 days

  • You have been in business for two or more years; and

  • You don’t currently offer a qualified retirement savings program to your employees

If your business already offers a qualified retirement plan to your employees, you are not eligible to participate in Colorado SecureSavings.