Hotels, motels, restaurants and seasonal businesses in Steamboat Springs must comply with Colorado SecureSavings if they meet the 5+ employees threshold — or offer a qualifying plan. Up to $100 per eligible employee per year, capped at $5,000 per year.
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Colorado SecureSavings covers Colorado employers with 5+ employees that do not offer a qualifying retirement plan. Counting rule: Five or more employees at any time during the previous calendar year (employees 18+, employed at least 180 days). Applies to employers in business for 2+ years.
Up to $100 per eligible employee per year, capped at $5,000 per year. The penalty is in force; no public record of assessments yet.
Already passed: All employers (2023 waves; final backstop) (2024-12-31) — unregistered employers should register or certify an exemption now. Newly eligible employers: annual notification.
C.R.S. 24-54.3-102(3), 24-54.3-107(1)(i); 8 CCR 1508-3 · Official program: coloradosecuresavings.com · Verified 2026-09-17.
Yes, if the business meets the threshold. Colorado SecureSavings applies to Colorado employers with 5+ employees that do not offer a qualifying plan. Hotels, motels, B&Bs and restaurants in Steamboat Springs follow the same rules as any other employer — seasonal operation does not exempt you.
Not automatically. Coverage depends on how Colorado counts employees: Five or more employees at any time during the previous calendar year (employees 18+, employed at least 180 days). Applies to employers in business for 2+ years. Seasonal employers can also satisfy the mandate with a SIMPLE IRA or 401(k), which may exclude employees who work fewer than 1,000 hours a year.
Yes. Exempt with a plan under 401(a)/401(k), 403(a)/403(b), SEP (408(k)), SIMPLE (408(p)), 457(b) or a MEP; employers with fewer than 5 employees or under 2 years in business must still certify. A private plan also gives you a real recruiting benefit for seasonal and year-round staff.
Yes. SECURE 2.0 Act tax credits are available to small businesses with fewer than 100 employees that start a new qualifying retirement plan (the full startup credit applies at 50 or fewer employees; it phases down from 51–100). Credits of up to $5,000/year for 3 years, plus up to $1,000 per employee in employer-contribution credits (phasing down over five years), are available regardless of whether your business is seasonal.
Already passed: All employers (2023 waves; final backstop) (2024-12-31) — unregistered employers should register or certify an exemption now. Newly eligible employers: annual notification. Penalty: Up to $100 per eligible employee per year, capped at $5,000 per year. The penalty is in force; no public record of assessments yet. Contact Kandelaki Solutions for a free compliance audit.
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