Voluntary
Does my Utah business have to offer a retirement plan?
Short answer
No. Utah doesn’t require employers to offer a retirement plan. In 2026 the state soft-launched Utah Savers, a voluntary marketplace where employers can compare and set up automatic-enrollment 401(k) or IRA plans from private providers. The full launch is planned for January 2027.
Who must comply
No Utah employer is required to offer a plan or use the exchange. Utah Savers is open to eligible private employers, and the Treasurer's office promotes it to small businesses with 50 or fewer employees.
Deadlines
There are no state registration deadlines. The law required the exchange to begin operating no later than January 1, 2027.
Penalties
There are no state penalties for not offering a retirement plan.
How to get exempt
No exemption is needed because there is no mandate.
Utah Savers or a 401(k)?
Utah Savers isn’t a state-run plan. The Treasurer’s office runs the marketplace, and private providers offer the plans, which must be automatic-enrollment 401(k)s or IRAs. A 401(k) lets employees defer $24,500 in 2026 and $25,500 in 2027, plus catch-ups from age 50; an IRA allows $7,500 a year.
Sources
Utah Office of State Treasurer: Utah Savers (treasurer.utah.gov) Utah State Legislature: H.B. 250 (2026) Utah Retirement Plan Exchange, enrolled copy (le.utah.gov) Georgetown University Center for Retirement Initiatives: States: 2026 state program status (as of November 6, 2026) (cri.georgetown.edu) Internal Revenue Service: 401(k) limit increases to $24,500 for 2026, IRA limit increases to $7,500 (irs.gov) Internal Revenue Service: COLA increases for dollar limitations on benefits and contributions (irs.gov)
This page is general information, not legal or tax advice. Confirm current rules with the state program before acting.
