Do you live in an auto-IRA program state?
As of June 30, 2024, 17 states established auto-IRA programs where employer participation is required if no retirement plan is already offered. In 2024, at least 25 states once again introduced legislation to establish new programs, amend existing programs, or form study groups to explore their options. The penalty for Colorado employers is $100 per employee up to $5,000 per calendar year for non-compliance.
States that enacted auto-IRA programs include:
Source: https://cri.georgetown.edu/states/