Yes, unless they already offer a retirement plan or have fewer than 5 covered employees.
Articles in this section
- Do all employers have to facilitate the program?
- Which employers are eligible to participate in the program?
- What if I already offer a qualified retirement plan?
- What is considered a qualified, employer-sponsored retirement plan?
- What if a business or nonprofit doesn't register for the program as required by law?
- I already offer a 401(k) or similar plan to some employees but not all. Do I have to offer this program too?
- Do payroll deduction IRAs count as a qualified, employer-sponsored retirement plan?
- Do I need to facilitate the program if I have only a small number of employees?
- What happens if a participating business or nonprofit falls below the program eligibility threshold eligible employees?
- If I offer the program to my employees now and then decide to offer a qualified retirement plan later, what do I do?
Related articles
- Does the 5 covered employee threshold for covered employer status include part-time employees?
- Do all employers have to facilitate the program?
- If clergy members contribute to a nationwide retirement plan, but none of the religious organization’s other staff have access to one, will the employer be required to join the MN Secure Choice Retirement Program for non-clergy employees?
- What if I already offer a qualified retirement plan?
- Can employers cancel their employer-sponsored retirement plans and offer this instead?