RetireReady NJ was created to help bridge the gap in retirement savings
With RetireReady NJ, businesses can help their employees save for retirement in a Roth or Traditional Individual Retirement Account (IRA) through convenient payroll deductions. This new program is an easy way for New Jersey workers to save for the future.New Jersey businesses with 25 or more employees that have been in business for two years or more and do not currently offer a qualified retirement plan are required to register with RetireReady NJ, a new State-administered retirement savings program. This initiative enables employees to save for retirement through payroll deductions into Roth or Traditional IRAs. RetireReady NJ is free to employers and integrates easily with existing payroll systems. Self-employed individuals and employees of smaller businesses can also enroll individually.
This program will give businesses an easy way to help employees save for the future. Employers can also market this valuable benefit to help attract, motivate, and retain their most valuable resources, their employees. Once registered, the savings are automatic for your employees. The program providers will contact them about their options and assist them with any desired changes to their accounts.
Upcoming webinars are scheduled for August 7 11am or September 12 at 2pm. Employers have no fiduciary responsibilities, meaning you are not responsible for the investment decisions or outcomes of any employees that participate in the program. For those learning more about the program, or to register for a webinar, please visit official program website here.
