Employer requirements
Register with RISavers by your size-tier deadline and facilitate payroll deductions, or maintain a qualified plan.
Active — deadlines phasing in
Rhode Island Retirement Plan Mandate: Requirements for Employers
RISavers
RISavers covers Rhode Island employers with 5+ employees and no qualified plan. The program opened October 21, 2025 through the Multistate Alliance partnership with MyCTSavings. Deadlines: 100+ employees October 15, 2026; 50–99 October 15, 2027; 5–49 October 15, 2028.
The Program
How RISavers works
RISavers opened to all eligible employers on October 21, 2025, delivered through the Multistate Alliance partnership with MyCTSavings. It covers employers with five or more employees and no qualified plan. Registration deadlines phase in by size: 100+ employees by October 15, 2026; 50–99 by October 15, 2027; and 5–49 by October 15, 2028. Under R.I. Gen. Laws § 35-23-15, employers first receive a notice of noncompliance; those that fail to comply within 30 days of the notice may be subject to a penalty of $250 per eligible employee.
Employers that sponsor a qualified retirement plan satisfy the RISavers requirement and can certify an exemption instead of registering. Because Rhode Island's deadlines run into 2028, employers weighing a plan of their own have room to compare options — an employer-sponsored 401(k) or Safe Harbor plan adds matching contributions and higher limits that the state Roth IRA cannot offer.
At A Glance
The Rhode Island mandate at a glance
Registration deadlines
100+ employees: October 15, 2026. 50–99 employees: October 15, 2027. 5–49 employees: October 15, 2028.
Covered employers
Employers with 5+ employees with no qualified plan.
Penalties / enforcement
Per R.I. Gen. Laws § 35-23-15: employers first receive a notice of noncompliance; those that fail to comply within 30 days of that notice may be subject to a penalty of $250 per eligible employee.
The Requirements
Who must comply in Rhode Island — and what is required
Employee eligibility
Eligible employees are enrolled automatically unless they opt out; delivered through the Multistate Alliance partnership with MyCTSavings.
Exemptions
Employers offering a qualified plan; employers with fewer than 5 employees.
Penalties and enforcement
Per R.I. Gen. Laws § 35-23-15: employers first receive a notice of noncompliance; those that fail to comply within 30 days of that notice may be subject to a penalty of $250 per eligible employee.
Your Options
Qualifying retirement plan alternatives in Rhode Island
Employers sponsoring a qualified retirement plan satisfy the RISavers requirement.
Start a new 401(k)
Design a plan around your workforce — matching, Roth options, vesting, and federal startup tax credits.
Start a new planUpgrade an existing plan
Confirm your current plan qualifies, then tune its design so the mandate works in your favor.
Upgrade my company’s planFull plan administration
LRS handles compliance testing, filings, and day-to-day administration so the plan stays qualified.
Plan administration servicesRead more about state-approved qualifying retirement plans.
Common Questions
Rhode Island mandate FAQs
Which Rhode Island employers must register for RISavers?
Employers with five or more Rhode Island employees that do not offer a qualified retirement plan.
What are the RISavers registration deadlines?
Registration phases in by employer size: 100+ employees by October 15, 2026; 50u201399 by October 15, 2027; and 5u201349 by October 15, 2028.
What is the penalty for not complying with RISavers?
Under R.I. Gen. Laws u00a7 35-23-15, an employer first receives a notice of noncompliance. An employer that fails to comply within 30 days of that notice may be subject to a penalty of $250 per eligible employee.
Does a 401(k) exempt us from RISavers?
Yes. Employers that sponsor a qualified retirement plan satisfy the requirement and can certify an exemption instead of registering.
What is RISavers?
Rhode Island's automatic-enrollment Roth IRA program, administered through the state treasury and delivered via the Multistate Alliance for Retirement Security in partnership with MyCTSavings.
We have employees in both Rhode Island and Connecticut u2014 what should we check?
Both states mandate coverage and both run through the Multistate Alliance, but they have separate registration requirements and thresholds. A single employer-sponsored plan can satisfy both.
Talk It Through
Not sure how the Rhode Island mandate applies to you?
Leading Retirement Solutions designs and administers plans that satisfy state mandates. Talk through your requirements with a consultant before your deadline.
This page is provided for general information only and is not legal or tax advice. Program details change; confirm requirements with the official state program or your advisors.