Colorado’s SecureSavings program is now in full enforcement mode. If you have 5 or more employees and no retirement plan, you’re already out of compliance. Here’s what Denver-area employers need to know — and the smarter alternative most businesses are choosing.
Colorado SecureSavings: Who Must Comply
- 5+ employees in Colorado
- In business for 2+ years
- No existing qualifying retirement plan
Penalty: $100 per eligible employee per year, capped at $5,000 per year.
Denver’s Competitive Job Market Makes Private Plans More Attractive
Denver has one of the tightest labor markets in the US. Tech companies, startups, healthcare, and hospitality are all competing for the same workers. A 401(k) with an employer match is one of the most-requested employee benefits — and SecureSavings doesn’t provide that.
SecureSavings vs. 401(k) for Denver Employers
SecureSavings:
✓ Free to administer
No employer contributions
No SECURE 2.0 credits
Weak employer brand signal
Private 401(k):
✓ Exempts from SecureSavings
✓ Up to $15,000 in SECURE 2.0 credits
✓ Employer contributions tax-deductible
✓ Higher contribution limits
✓ Powerful recruiting and retention tool in Denver’s hot job market
SECURE 2.0 Numbers for a Denver Business with 10 Employees
Plan admin cost (3 years): ~$9,000
SECURE 2.0 startup credits: up to $15,000
Net: credits can offset most of that cost — while you stay fully exempt from SecureSavings
Colorado Cities We Serve
We help employers in Denver, Colorado Springs, Aurora, Fort Collins, Lakewood, Thornton, Arvada, Westminster, Boulder, and throughout Colorado navigate SecureSavings compliance and private plan alternatives.
Book your free Colorado compliance audit →
This content is for educational purposes only and does not constitute financial, tax, legal, or investment advice. State requirements and penalties are subject to change. Consult a qualified professional before making compliance decisions.
