The Minnesota Secure Choice Retirement Program was established by the legislature to encourage saving for retirement by employees working for employers who don’t offer a workplace retirement plan.  To achieve that goal, legislation was passed mandating employers with five or more employees to participate in the Program. If an employer already offers a retirement plan, they will not be required to participate in the Program. Employers are required to transmit contributions deducted from each employee’s paycheck to the Program for deposit in an individual retirement account (IRA) established for each employee. Employees must be allowed the opportunity to change their contribution amount or opt out of contributing altogether. Contributions will be invested at the direction of the employee into investment funds offered with the oversight of the Minnesota State Board of Investment.