Tax Tip #283

New York employers who do not offer a qualified retirement plan, have been in business for at least two years, and have 10 or more employees are required to offer their employees a retirement plan. 

The New York State Secure Choice Savings Program is a no-cost option for employers, and they are not permitted to match employees’ contributions. Employee participation is completely voluntary. Employee contributions are added to a Roth IRA. 

For more information, visit: www.NewYorkSecureChoice.com