About the Washington Saves Program

The Washington Saves Retirement Savings Program anticipates opening in July 2027. Established by state law, Washington Saves was created to help more than 1.2 million workers in our state who currently do not have access to retirement savings at work. Employees will be able to save for their future through automatic payroll contributions into their own Individual Retirement Account (IRA).

The program is designed to be flexible and portable for savers, and investments will be professionally managed by private sector firms with state oversight. That means businesses can rest assured their employees have access to high-quality retirement savings—without the added cost or complexity. 

Advantages for Employers

For employers, the value is clear: 

• Save Money: No program fees for employers and no employer contributions
• Limited Responsibilities: No managing employee accounts and no fiduciary liability
• Support Recruitment and Retention: A simple way to support employees’ financial security
• Easy Employer Role: Simply register, maintain an employee roster, share information with employees, and set up payroll contributions. Washington Saves takes care of the rest!

Learn More About Washington Saves for Employers.

Advantages for Savers

For savers, Washington Saves gives employees a new way to save for retirement, even when their employer may not offer a retirement plan:

• Easy to Start: Employees 18 and older who work for a participating employer will be enrolled automatically, with contributions coming straight from their paycheck. Savers can opt out or back in at any time.
• Easy to Manage: No hassle, no complicated paperwork. Choose from a simple menu of professionally managed investment options.
• Portable: Your account stays with you even if you change jobs.
• Flexibility: Savers can choose their contribution rate or use the default savings rate. Change it anytime.
• More Ways to Join: Self-employed individuals, as well as those working at a non-mandated employer, can also join via individual enrollment.

Learn More About Washington Saves for Employees.