Washington State-Run Retirement Savings Program Takes Effect
Implementation Date: July 1, 2027
Beginning July 1, 2027, covered employers are required to facilitate optional employee contributions, through payroll deductions to Washington Saves, an automatic enrollment individual retirement savings account program run by the state.
The program applies to employers that have been in business in Washington for two years, do not offer a private employee retirement plan and whose employees work a combined minimum of 10,400 hours in the previous calendar year.