Colorado Secure Savings

Updated June 01, 2023

In 2017, the State of Colorado legislation passed a bill which establishes the Colorado Secure Savings Plan. This plan is a state-managed retirement savings plan for private-sector employees in the form of an automatic enrollment payroll deduction individual retirement account (IRA). Employers with a specified number of employees in the state are required to participate in the plan and any employee may choose to participate or not in the plan.

Beginning on or after June 1st, 2023, all employees will be emailed an invitation to manage their Colorado Secure Savings investment plan, or opt-out within 30 days of the invitation. Employees must understand that their enrollment is automatic unless the employee opts out, and an automatic 5% of the employee’s paycheck will be retained by their employer and invested in the employee’s individual CSS IRA plan if no action is taken on the invitation by the employee to manage their account. All employees have the right to opt out at any time from the CSS plan through their invitation email or by calling 1-844-711-5001.

For additional information and to access the Saver Portal with Colorado Secure Savings, please visit their website at: https://coloradosecuresavings.com/

For additional information about this benefit and its terms, please review the following document: Colorado Secure Savings Onboarding Handout