Category: 401k for Businesses

What New York State Business Owners Need to Know

New York is taking a major step to expand access to retirement savings, and it has real implications for business owners across New York State.

With the rollout of the New York Secure Choice Retirement Savings Program, private employers with 10 or more employees that don’t currently offer a retirement plan will soon face new registration requirements. This will be the first time retirement benefits have moved from a “nice to have” to a legal mandate.

Let’s dive into what New York State business owners should know and how the right planning approach can turn this mandate into an opportunity.

Which New York Employers Are Affected

Under Secure Choice, private employers will be required to take action if they:

• Have been in business for 2 or more years
  
• Employed 10 or more employees in the previous calendar year
  
• Do not currently offer a qualified retirement plan already

New York employers that meet these criteria will need to either register for the state-sponsored Secure Choice program or offer an eligible private retirement plan and claim an exemption.

Registration deadlines will be phased in beginning in 2026, based on employer size.

How We Help New York Businesses Implement the Right Retirement Plan

At Note Advisors, we work closely with New York State business owners to help them choose the plan best for their business and their employees. Our support includes:

• Custom plan design
  Tailored retirement solutions aligned with your business goals
  
• Employee education & engagement
  Ongoing financial education to drive participation and retention
  
• Certified Financial Planners
  Expert guidance to minimize administrative burden and stay compliant

Turning a Mandate Into an Opportunity

With Secure Choice deadlines approaching in the Spring of 2026, now is the time for New York State employers to review their retirement plan strategy. Early planning provides more flexibility, avoids last-minute compliance pressure, and allows businesses to implement a plan that supports growth and employee financial well-being.

If you don’t currently offer a retirement plan and would like guidance, I’m here to talk through your options and help you determine the best fit for your business. If you have questions or need help moving forward with confidence, let’s connect.