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  • Can cannabis-related businesses facilitate Colorado SecureSavings?

    Yes, cannabis-related businesses can facilitate Colorado SecureSavings.

  • Can employers match employee contributions?

    Colorado SecureSavings does not allow employer contributions. An employer's role is limited to facilitating the program for employees.

  • Can I contribute a set dollar amount per paycheck instead of a percentage?

    Sorry, at this time you can only contribute a percentage through payroll deductions. If you’d rather contribute a dollar amount on a recurring monthly schedule, you will have to add a bank account to your Colorado SecureSavings account and contribute that way.

  • Can I have a Colorado SecureSavings account plus another retirement savings plan?

    You can contribute to more than one savings plan or account at a time. But remember, the IRS contribution limits are cumulative for all Traditional and Roth IRAs owned by an individual.

  • 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...

  • Can I make withdrawals if I work during my retirement?

    Yes, you can make withdrawals from your account at any time. Consider whether a withdrawal from your Colorado SecureSavings account is really your best option. You may want to consult with a tax expert.

  • Can I opt out of automatic contribution increases?

    Yes, you can opt out of automatic contribution increases at any time online or by phone. Just visit the “Settings” section of your account.

  • Can I roll over another plan’s money into my Colorado SecureSavings account?

    Yes, you can, but please consult with a tax expert or financial advisor before making any changes, to better understand any steps to take and restrictions that may apply. Rollovers from pre-tax retirement plans like 401(k)s and 403(b)s will be taxed to convert them from pre-tax to post-tax status...

  • Can I take money from my Colorado SecureSavings account?

    You can take money out of your account, which is a Roth IRA, at any time. There is no fee or penalty for withdrawing the contributions you make. However, investment earnings are subject to taxation and an additional penalty if taken out before you reach age 59½. There are penalties if you withdraw...

  • Can I transfer my Colorado SecureSavings money into another retirement savings account?

    Money in your Roth IRA can be transferred or rolled into another Roth IRA only. You should consult with a tax expert or financial advisor first.

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Colorado SecureSavings is governed by the Colorado Secure Savings Program Board (“CSSPB”), an instrumentality of the State of Colorado. Vestwell State Savings, LLC (“Vestwell”), dba Sumday Administration (“Sumday”), is the program administrator. Sumday and The Bank of New York Mellon are responsible for day-to-day program operations. Participants who use Colorado SecureSavings beneficially own and have control over their Roth Individual Retirement Accounts (“IRA”), as provided in the program offering set out at ColoradoSecureSavings.com.

Colorado SecureSavings’ investment options are selected by the CSSPB. For more information on Colorado SecureSavings’ investment options, go to ColoradoSecureSavings.com. Account balances in Colorado SecureSavings will vary with market conditions and are not guaranteed or insured by the CSSPB, the State of Colorado, the Federal Deposit Insurance Corporation (“FDIC”) or any other organization.

Colorado SecureSavings is a completely voluntary retirement program. Saving through a Roth IRA will not be appropriate for all individuals. Employer facilitation of Colorado SecureSavings should not be considered an endorsement or recommendation by your employer of Colorado SecureSavings, Roth IRAs, or the investment options in the program. Roth IRAs are not exclusive to Colorado SecureSavings and can be obtained outside of the program and contributed to outside of payroll deduction. Contributing to a Colorado SecureSavings Roth IRA through payroll deduction offers some tax benefits and consequences. You should consult appropriate professional advice or consultation if you have questions related to taxes or investments.

The Colorado SecureSavings name and the Colorado SecureSavings logo are trademarks of the CSSPB and may not be used without permission.

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