25+ employees: NOW enforcing | Penalty: $100–$500/employee/year | Escalating annually
My credential is in retirement plan fiduciary standards — which means I am professionally and ethically obligated to give you accurate information, not advice that benefits me.
In 15 minutes you will know your exact fine exposure, your SECURE 2.0 credit eligibility, and every option available to you — including ones that have nothing to do with my services.
Then you decide. No follow-up pressure. No obligation. Ever.
In 15 minutes you will know exactly:
- Whether New Jersey mandates apply to your business right now
- Your exact fine exposure if you’re non-compliant
- What SECURE 2.0 tax credits you’re eligible for
- Every option available — including ones unrelated to our services
No sales pitch. No follow-up pressure. You decide what happens next.
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📅 Book Your Complimentary New Jersey Compliance Audit
Complimentary · 15 minutes · No obligation · See your exact fine exposure + SECURE 2.0 credit
📋 Full Compliance Details
New Jersey’s RetireReady NJ program is actively enforcing penalties on employers who have not registered or set up a qualifying retirement plan. If your NJ business has 25 or more employees and no retirement plan, you are at risk right now.
Who Is Affected in New Jersey?
- NJ employers in business for 2+ years
- 25 or more employees on payroll
- No existing 401(k), SIMPLE IRA, SEP, or pension plan
NJ RetireReady Penalty Schedule
| Violation Year | Penalty Per Employee | Example: 30 employees |
|---|---|---|
| Year 1 | $100/employee | $3,000 |
| Year 2 | $250/employee | $7,500 |
| Year 3+ | $500/employee | $15,000/year — ongoing |
RetireReady NJ vs. Private 401(k)
| Feature | RetireReady NJ (State) | Private 401(k) |
|---|---|---|
| Employee contribution limit | $7,000/yr | $23,500+/yr |
| Employer tax credit | None | Up to $15,000 (SECURE 2.0) |
| Employer tax deduction | None | Yes — full deduction |
| Employer match | Not allowed | Optional |
| Avoids mandate penalties | Yes | Yes — plus tax savings |
My credential is in retirement plan fiduciary standards — which means I am professionally and ethically obligated to give you accurate information, not advice that benefits me.
In 15 minutes you will know your exact fine exposure, your SECURE 2.0 credit eligibility, and every option available to you — including ones that have nothing to do with my services.
Then you decide. No follow-up pressure. No obligation. Ever.
Frequently Asked Questions — RetireReady NJ
We have 26 employees. Are we in the first wave of enforcement?
Yes. The 25-employee threshold is now in active enforcement. If you have 25+ NJ employees and no qualifying plan, you are currently subject to fines.
What counts as a “qualifying” plan that exempts us?
Any of the following: 401(k), 403(b), SIMPLE IRA, SEP-IRA, pension/defined benefit plan, or payroll deduction IRA. If you offer any of these, you are exempt and do not need to register for RetireReady NJ.
Can we just sign up for RetireReady NJ now and stop the fines?
Yes — coming into compliance stops future penalties. For past exposure, the state may work with businesses that proactively comply. A private 401(k) is often a better long-term solution with tax advantages that RetireReady NJ doesn’t offer.
Does this apply to homecare agencies and staffing companies?
Yes. Industry doesn’t matter — if you have 25+ NJ employees on payroll and no plan, the mandate applies. Homecare agencies, staffing firms, restaurants, and retail businesses are all subject.
Kandelaki Solutions is an independent financial services firm specializing in NJ retirement mandate compliance. We are not affiliated with the State of New Jersey or the RetireReady NJ program.