Hotels, motels, restaurants and seasonal businesses in Long Beach Island must comply with RetireReady NJ if they meet the 10+ employees threshold — or offer a qualifying plan. Escalating: year 1: written warning; $100 per employee (year 2); $250 per employee (years 3-4); $500 per employee (year 5+).
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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; $100 per employee (year 2); $250 per employee (years 3-4); $500 per employee (year 5+). The penalty is in force; no public record of assessments yet.
Upcoming: 20–24 employees by 2026-12-01; 10–19 employees by 2027-02-17. Already passed: 40+ employees (2024-09-15); 25–39 employees (2024-11-15) — unregistered employers should register or certify an exemption now. Newly eligible employers: within 3 months of hire.
N.J.S.A. 43:23-14, 43:23-31 (P.L.2025 c.379, approved 2026-01-20, effective 2026-04-01) · Official program: retireready.nj.gov · Verified 2026-09-17.
Yes, if the business meets the threshold. RetireReady NJ applies to New Jersey employers with 10+ employees that do not offer a qualifying plan. Hotels, motels, B&Bs and restaurants in Long Beach Island follow the same rules as any other employer — seasonal operation does not exempt you.
Not automatically. Coverage depends on how New Jersey counts employees: 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. 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 PEO plan; payroll-deduction IRAs do not qualify; certify with the Access Code. 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.
Upcoming: 20–24 employees by 2026-12-01; 10–19 employees by 2027-02-17. Already passed: 40+ employees (2024-09-15); 25–39 employees (2024-11-15) — unregistered employers should register or certify an exemption now. Newly eligible employers: within 3 months of hire. Penalty: Escalating: year 1: written warning; $100 per employee (year 2); $250 per employee (years 3-4); $500 per employee (year 5+). The penalty is in force; no public record of assessments yet. Contact Kandelaki Solutions for a free compliance audit.
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