07/30/2026
**BUSINESS OWNERS**
Beginning July 1, 2026, many Virginia employers will be required to offer a retirement plan or participate in the state's RetirePath Virginia program.
Your business may be affected if:
• You've been operating for more than two years
• You have five or more employees (including part-time staff)
• You do not currently offer a qualified retirement plan
Employers have two options:
-> Establish a qualified retirement plan, such as a 401(k) or SIMPLE IRA
-> Register for RetirePath Virginia, the state's payroll-deduction program
Businesses that fail to comply may face penalties of up to $200 per eligible employee each year.
If you're a business owner and haven't reviewed your options, now is a good time to start planning. Additionally, if you have a retirement plan in place, this is also a great time to review where you currently stand.
Our team works with employers to design and manage workplace retirement plans and can help you evaluate which approach makes the most sense for your organization!