RICHMOND, Va.— More than 1,500 Virginia workers are saving for retirement through the state’s new RetirePath Virginia program. An important deadline is approaching to help even more Virginians do the same.

Under a new state law, eligible Virginia employers are REQUIRED to either register for RetirePath or offer their own qualified retirement plan by February 15, 2024. Employers can respond or request an exemption at RetirePathVA.com.

“We’re urging employers to act before year-end,” said Peter Thompson, RetirePath Program Director. “Don’t wait until the state-mandated deadline. The RetirePath team is available to answer questions and help businesses get started today.”

RetirePath is designed to help close the retirement savings gap and improve the financial security of more Virginians. The program gives eligible employers a simple way to help their employees save for the future, with no employer fees, no fiduciary responsibility, and minimal administrative requirements.

RetirePath is voluntary for employees. Individuals who are self-employed or don’t work for an employer registered with RetirePath can open an account today.