Get answers to frequently asked questions

Colorado’s new state-facilitated retirement savings program was created to help the nearly 940,000 workers in Colorado without access to employer-sponsored retirement plans. We understand you’ll have questions. Here are the answers to some frequently asked questions. If you have additional questions, we’re here to help.

Does this program replace 401(k)s?

No, this program is not meant to replace or compete with 401(k)s or other qualified retirement plans. Employers that offer a qualified retirement plan can certify exemption from the program.

Will services be available in other languages?

Yes, the call center will offer assistance in English and Spanish and will have access to translation services for other languages. Certain program information and materials will also be available in Spanish.

Where should I turn if I have an issue or concern with a Colorado SecureSavings account?

We're available to answer any questions or concerns you may have. Whether you want to call, email, or send us something by mail, you can find our contact information here.

How does the Colorado SecureSavings program work?

Colorado SecureSavings offers a simple way to save for retirement. If your employer is registered for the program, you can save through automatic payroll contributions from your paycheck. The default savings rate for a Colorado SecureSavings account is 5% of your gross pay (the amount you earn before taxes or any other deductions). You can change your savings rate at any time. This contribution amount is then deducted from your paycheck after taxes have been taken out and contributed into your account — a Roth Individual Retirement Account (IRA). The program is facilitated by your employer but is totally under your control.

How do I join Colorado SecureSavings?

If your employer facilitates Colorado SecureSavings, they will add you to the program and you’ll receive a notice from us. After 30 days, you’ll be enrolled automatically and start saving right away, with the money going into a default investment selection based on your date of retirement. If you’re self-employed or don’t work for an employer registered with Colorado SecureSavings, you can sign yourself up and contribute directly to your IRA via automatic contributions from your bank account. Participation in Colorado SecureSavings is completely voluntary for you. You can opt out or back in whenever it works best for you.

What is a Roth IRA?

A Roth IRA is an Individual Retirement Account that helps you reduce your taxes once you retire. While you’re working, you pay your usual income tax on the money you earn and deposit it into your Roth IRA. Your Roth IRA earns money (interest and/or dividends), and that money is constantly added to your contributions. When you retire and start taking money out of your Roth IRA (like you’re paying yourself), there are no taxes. In other words, all the interest that your account earns over the years is tax-free. And that’s a big deal. For even more details on Roth IRAs you can visit the Internal Revenue Service (IRS) website.

Why does a program like this exist?

The retirement savings crisis is a serious problem in the United States. In fact, nearly 70% of Americans are concerned that they don’t have enough money for retirement.1 In Colorado alone, nearly 940,000 workers don’t have access to a qualified retirement savings plan at work, and the State moved quickly to provide expanded access to easy retirement savings through the workplace.

1. “Mind Over Money.” Capital One, 27 Jan. 2020,

Why isn’t there a national program like this?

While Congress has not passed legislation for a nationwide program, several states, including Colorado, are establishing their own retirement savings programs to help workers save now.

Is Colorado SecureSavings the same as an employer retirement plan?

Not at all. Colorado employers are mandated by state law to facilitate this state-facilitated savings program for employees, when the employer does not offer its own retirement plan.