RetireReady NJ: New Jersey Retirement Mandate for Employers

RetireReady NJ covers New Jersey employers with 10+ employees that do not offer a qualifying retirement plan. Counting rule: At no time during the previous calendar year employed fewer than 10 New Jersey employees (a floor for the whole prior year, not a peak). Applies to employers in business for 2+ years.

Escalating: year 1: written warning; year 2: a $100 fine (flat, not per employee); years 3-4: $250 per employee; year 5+: $500 per employee. Collecting contributions without sending them to the program: $2,500 for a first offense, $5,000 for each later offense. The penalty is in force; no public record of assessments yet. How RetireReady NJ penalties are calculated, with examples.

• Passed: 40+ employees, September 15, 2024
• Passed: 25–39 employees, November 15, 2024
• Upcoming: 20–24 employees, December 1, 2026
• Upcoming: 10–19 employees, February 17, 2027

Newly eligible employers: within 3 months of hire.

If your group's date has passed and you have not registered, register or certify an exemption now.

N.J.S.A. 43:23-14, 43:23-31 (P.L.2025 c.379, approved January 20, 2026, effective April 1, 2026). Official program: RetireReady NJ official site. Verified October 4, 2026.

You must take part if your business has 10 or more employees in New Jersey and you do not offer a qualified retirement plan, such as a 401(k) or SIMPLE IRA. Businesses open fewer than 2 years are not covered yet. The section above explains exactly how New Jersey counts your employees.

The next date to know is December 1, 2026: 20–24 employees. Earlier groups' dates have already passed; if yours is one of them, act now.

Fines rise the longer you stay out of compliance, reaching $500 per employee per year at the top tier. No assessments have been made public so far.

Offer your own qualified retirement plan and certify it with RetireReady NJ. What counts in New Jersey: a plan under 401(a)/401(k), 403(a)/403(b), SEP (408(k)), SIMPLE (408(p)), 457(b) or a PEO plan; payroll-deduction IRAs do not qualify; certify with the Access Code.

RetireReady NJ spares you from running a plan, but it allows no employer match and caps each saver at the IRA limit ($7,500 for 2026). A 401(k) allows up to $24,500 per employee for 2026, lets you add a match, and credits can offset much of the startup cost for eligible employers.

You do not have to register. RetireReady NJ's eligibility rules list the 10-employee test as a condition to participate, so a smaller business that wants to offer retirement savings would set up its own plan, such as a SIMPLE IRA or 401(k).