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.

If I have employees in multiple states, including Colorado, do I just facilitate the State's program for employees in Colorado?

Yes, you would need to facilitate the program only for employees with income in Colorado.

Are workers of only certain immigration statuses eligible for the program? What about undocumented workers?

Only workers with a verifiable Individual Tax Identification Number (ITIN) or Social Security number (SSN) can participate in the program. If a worker's information cannot be verified, the worker will not be enrolled, and an account will not be established for him or her.

Do family members who work for my business count as employees?

Yes, they can participate if they are considered to be employees for tax purposes.

If a business owner or shareholder is also an employee, are they eligible to participate?

Yes, they can participate if they are considered to be employees for tax purposes.

Do I need to facilitate the program if I only have a small number of employees?

Yes. Employers with at least five W-2 employees (who have worked for you or at least 180 days) must facilitate the State's program if they don't offer a qualified, employer-sponsored retirement plan.

Do I need to offer the program to work-study students?

Nope. You do not need to facilitate the program for full-time students in work-study programs.

Do payroll deduction IRAs count as a qualified, employer-sponsored retirement plan?

No. Payroll deduction IRAs are not qualified retirement plans as defined by either federal or Colorado state statutes.

If I offer my employer-sponsored retirement plan only to some employees but not all, do I have to offer the State's program as well?

No, if you offer an employer-sponsored retirement plan to any of your employees, you will file a certificate of exemption and you will not need to facilitate the State's program.

Who is responsible for choosing the investment options for participants?

The Colorado SecureSavings Board in the Colorado Department of the Treasury is responsible for making decisions about the investment options available to participants of the program.