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.

If I do not have earned income, can I still join Colorado SecureSavings?

No, to qualify for any IRA under IRS regulations you need earned income.

If I have another IRA, in addition to the State's program, does the contribution limit apply to each separately or to the combined amount?

The IRS's annual IRA contribution limits apply to the combined amount contributed to all of your IRAs, both Traditional and Roth.

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.

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...

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.

Investments

Colorado SecureSavings investment options Investing is about putting your money to work so it grows over time and helps you meet your future needs. With Colorado SecureSavings, you have access to a range of investment options, allowing you to invest your contributions based on your retirement...

IRA Custodial Agreement

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.

Is investing in Colorado SecureSavings the same as putting money in a bank?

No, there are big differences. Banks offer checking and savings accounts that typically pay less interest and might offer other savings and investment products. Colorado SecureSavings helps you save through payroll contributions to your Roth IRA and allows you to invest in various targeted,...