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Do other states have programs like this?
Yes, similar programs are up and running in other states, including California, Oregon, Connecticut, Maryland, and Illinois. And many other states are about to launch state-facilitated retirement savings programs or are in the process of passing legislation to support them, including Virginia,...
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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.
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Does Colorado SecureSavings have an investment consultant?
The program has a private investment consultant that provides input, monitoring, and feedback about investments to the Authority.
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Does Colorado SecureSavings protect the security of funds deposited into my account?
Yes, Colorado SecureSavings has processes in place to protect the security of contributions to your account. Our program administrator and their affiliates have dedicated security and compliance teams to implement encryption, strict internal protocols and training, and annual independent security...
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Does Colorado SecureSavings secure funds remitted to the employee accounts?
Colorado SecureSavings has processes in place to protect the security of employee contributions to their accounts. Our program administrator and their affiliates have dedicated security and compliance teams to implement encryption, strict internal protocols and training, and annual independent...
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Does the program have an investment consultant?
Yes. The program has a private investment consultant that provides input, monitoring, and feedback about investments to the Colorado SecureSavings Board.
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Does the program provide information and consumer protections to participants?
Yes, Colorado SecureSavings helps ensure that employees have more choices, more information, and easier access to retirement savings accounts. Consumer protections are included in the program and may be enforced by appropriate State agencies.
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Does the State have printed or electronic materials to help my employees understand the benefits?
Yes. There are educational materials you can send to employees electronically or print and share with them.
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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.
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Empleadores
Colorado SecureSavings ha lanzado oficialmente. La inscripción para el programa ya está abierta. Para registrarse y configurar a sus empleados para que comiencen a ahorrar, necesitará su Número de Identificación de Empleador (EIN) y su Código de Acceso único. Colorado SecureSavings puede ayudar a...
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