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.
- 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.
- What if my payroll company won't help me administer Colorado SecureSavings?
-
You can still offer Colorado SecureSavings to your employees on your own with no complex administration — easily making it a part of your own payroll process. Watch this video to see how facilitating the program involves minimal steps and allows you to focus on your business.
- What if my payroll provider is stating they will charge a fee for remitting contributions with Colorado SecureSavings?
-
Whether you use a payroll provider or not, Colorado SecureSavings does not charge a fee to remit contributions. If your payroll provider will charge you a fee for helping you facilitate the program, you can easily administer it on your own. Watch this video to see how facilitating the program involves minimal steps and allows you to focus on your business.