New Jersey’s “RetireReady NJ” program, launched under the New Jersey Secure Choice Savings Program Act signed into law in 2019, targets workers lacking access to employer-sponsored retirement plans. This state-administered initiative, which began last summer, is designed to make retirement savings accessible for those without private plans.
Mandating registration from firms with 25 or more employees in operation for at least two years, “RetireReady NJ” facilitates retirement savings through payroll deductions into Roth or Traditional IRAs. The program also allows self-employed individuals or those working for smaller employers to save with “RetireReady NJ” independently. Participating employers incur no costs, with seamless payroll integration simplifying involvement.
Informative mailers about the program reached qualifying employers in July 2024. RetireReady NJ has held ongoing webinars to further educate employers about participation benefits, deadlines, and obligations. Interested parties can register for these sessions or view past recordings at RetireReady.nj.gov.
