September 29, 2025

Why This Matters Now

If you own a small to mid-size business in New York or New Jersey, there’s an important compliance issue you can’t afford to ignore: both states now require employers who don’t offer a retirement plan to provide one.

These rules are part of a broader national trend aimed at closing the retirement savings gap. While the intent is good—helping more Americans save for their future—the new mandates create added responsibilities for business owners.

At Omni 360 Advisors, we specialize in guiding business leaders through these requirements, turning compliance challenges into strategic opportunities for growth and employee retention.

What the State Mandates Require

Both New York and New Jersey have introduced programs that mandate employers without a retirement plan to automatically enroll eligible employees into a state-sponsored retirement savings plan.

• Which businesses are affected?
  Generally, small to mid-size employers who do not currently sponsor a retirement plan.
• What’s required?
  You must either:
  1. Enroll your employees into the state plan, or
  2. Establish your own qualified retirement plan (such as a 401(k)) to meet the requirement.
• What are the risks of noncompliance?
  Failing to act can result in penalties, administrative headaches, and unnecessary exposure for your business.

📍For a broader perspective, you can view the map of state retirement mandates here: Retirement Plan Mandate Map.

Why This Is More Than Just Compliance

While at first glance this may feel like just another regulation, smart business owners know it’s also a strategic opportunity:

• Attract & retain top talent: Offering a retirement plan shows employees you’re invested in their future.
• Tax advantages: Establishing your own plan may offer tax credits and deductions.
• Flexibility & control: Choosing a private plan (like a 401(k)) often gives you more options than defaulting into a state program.
• Employee satisfaction: A strong benefits package supports morale and productivity.

How Omni 360 Advisors Helps

Navigating retirement plan mandates doesn’t have to be overwhelming. At Omni 360 Advisors, we work with business owners to:

✅ Evaluate whether you’re subject to the rules
✅ Compare state-sponsored programs with private retirement plan options
✅ Design cost-effective retirement plans that align with your business goals
✅ Keep your company compliant—while also positioning you as an employer of choice

Take Action Today

With deadlines and enforcement looming, now is the time to prepare. Don’t wait until compliance becomes a liability.

👉 Schedule a compliance reviewwithOmni 360 Advisorstoday. We’ll walk you through the requirements, explore your options, and build a retirement plan strategy that protects your business and supports your team’s financial future.