What is RISavers?
The RISavers Program is Rhode Island’s new state-sponsored retirement savings program designed to expand access to retirement savings for Rhode Island workers. Employers with 5 or more employees that do not already offer a retirement plan will be required to facilitate RISavers payroll deductions for eligible employees according to state deadlines.
Do Businesses Need to Register for the Program by December 12, 2025?
The State of Rhode Island originally announced a registration deadline of December 12, 2025. The state has since updated its guidance to clarify that this window was only intended to help with program administration, not program enforcement. Early registration is encouraged, but employers will not be penalized provided the plan is implemented prior to the established enforcement dates.
When Does the Program Apply to My Business?
The law provides phased enforcement dates based on employer size:
- Businesses with more than 100 eligible employees must enroll by October 15, 2026
- Businesses with 50 – 99 eligible employees must enroll by October 15, 2027
- Businesses with 5 – 49 eligible employees must enroll by October 15, 2028
Key Points for Employers
- If you already offer a retirement plan to your employees, RISavers does not apply to your business.
- If you have 4 or fewer employees*, the program does not apply to your business.
- Employers with 5 or more employees* who do not already offer a retirement plan must either:
- provide employees with access to the RISavers Program, or
- adopt an independent retirement plan within the required timeframe.
- The State of Rhode Island has contracted with Vestwell to act as the plan administrator.
- Employers participating in the program must provide certain information to Vestwell, including required
employee data and details related to automatic enrollment (set at 5% as of this notice). - Employees contribute through payroll deduction and may opt out at any time.
* The number of employees is determined by calculating the average number of employees reported on the quarterly RI TX-17 forms for the previous calendar year.
Questions?
- For questions about registering your business with RISavers, you can visit www.risavers.gov, contact RI Treasury
directly at (401) 222-4776, or Vestwell at (833) 868-4732. - For more information about the law, visit https://treasury.ri.gov/press-releases/important-information-
regarding-risavers-program - For more information about how CSC Paymaster can assist you with your retirement plan needs, contact your
Payroll Account Representative.
