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Employers

For Employers

Washington Saves is a simple, no-fee way to help your employees save for retirement through automatic payroll deductions into an IRA.

Which Employers are Required to Participate?

State law requires employers to join if they:

  • Have operated in Washington for 2-years or more,
  • Have a physical presence in the State of Washington,
  • Employ workers for 10,400+ hours/year, or more (roughly equivalent to 5 full-time employees), and
  • Do not currently offer a qualified retirement plan.

How Employers Participate

  • Register
    Enroll your business when Washington Saves opens
  • Share Program Info
    Provide key details to employees
  • Facilitate Enrollment
    Ensure eligible employees are enrolled
  • Manage Payroll Deductions
    Process contributions via payroll

How Employees Participate

  • Automatic Enrollment
    Employees who are 18 or older will be enrolled automatically, but can opt out (and back in) at any time.
  • Flexible Contributions
    Employees can use the default savings rate, or choose a rate that is right for them.
  • Portable and Accessible
    Accounts follow employees if they switch jobs, and they can access their money when needed (subject to IRS rules).

View Informational Flyer for more details.