Hawaii Retirement Savings Program: will your business have to sign up, and when?

Hawaii's program is not open yet; the state projects a launch in late December 2026. It will cover employers in Hawaii with one or more employees that haven't offered a qualifying retirement plan in the past two years.

No employer deadline has been set. Employers that already offer a 401(k) or similar plan are not covered.

Not open yetHawaii Retirement Savings Program (also called HISavers)

Who has to do this?

Under the Hawaii Retirement Savings Act (HRS chapter 389, as amended by Act 113 of 2025)4, a Hawaii employer will be covered when all of these are true:

  • You are in business in Hawaii and have one or more employees. 4
  • You haven't offered or kept a qualifying retirement plan at any time in the previous two years. 4

What a covered employer does: Once the program opens: give employees written notice of their right to opt out, enroll them automatically, and send their contributions by the 15th of the following month. 5

When?

The program is projected to launch in late December 2026. The board voted for a two-phase rollout and expects employer deadlines in early 2027; no date has been set. 3

What is the Hawaii Retirement Savings Program?

  • Each enrolled employee gets a Roth IRA. 5
  • The default contribution is 5% of wages. Employees can change it or opt out. 2
  • Employers may not contribute, whether matching or not. 5

What if we already have a 401(k)?

  • An employer that offered or kept a 401(a), 401(k), 403(a), 403(b), SEP or SIMPLE IRA plan at any time in the previous two years is not covered. 4
  • The program has not yet published how employers with a plan tell it so. 1

Your two options

Either one meets the requirement. The state program column is as the state describes it; which suits you depends on your business and your people.

Join the Hawaii Retirement Savings ProgramOffer your own plan
What you doOnce the program opens: give employees written notice of their right to opt out, enroll them automatically, and send their contributions by the 15th of the following month. 5Not covered; how to tell the program is not published yet. 1
Where the money goesA Roth IRA for each employee 5Accounts in the plan you choose, such as a 401(k)
Employer contributionsNot permitted 5Up to you, within the plan's design
Fee to the employerNot stated by the programSet by the provider you choose

What does it cost?

The state program: the program's pages read for this page do not state an employer fee.

Your own plan: the provider sets the fees, and federal tax credits can cover part of the cost of starting one. See 401(k) tax credits for small businesses and our pricing.

What happens if we don't?

  • For each employee not enrolled without good reason, the employer owes the missed contributions with 6% interest, $25 for each month, and $50 a month once a penalty is assessed. 6
  • Other violations carry at least $500 each, capped at $5,000 a calendar year. A failure fixed within 90 days can avoid penalties under conditions in the statute. 6

General information, not legal advice. Rules change; confirm with the state program or your counsel.

Sources & Methodology
  1. Hawaii Department of Labor and Industrial Relations, Hawaii Retirement Savings Program. Read October 13, 2026.
  2. Hawaii Department of Labor and Industrial Relations, Hawaii Retirement Savings Program, frequently asked questions, page dated November 2025. Read October 13, 2026.
  3. Hawaii Retirement Savings Board, Minutes of the June 16, 2026 meeting, page dated June 16, 2026. Read October 13, 2026.
  4. Hawaii State Legislature, HRS § 389-2, Definitions. Read October 13, 2026.
  5. Hawaii State Legislature, HRS § 389-5, Program; payroll deduction. Read October 13, 2026.
  6. Hawaii State Legislature, HRS § 389-14, Penalties. Read October 13, 2026.

Each statement is paraphrased or quoted from the source it cites. A link to a state agency does not mean the agency endorses alooola. Last verified October 13, 2026.

Get help with the Hawaii Retirement Savings Program in three steps

  1. Tell us about your business: your state, how many people work for you, and any plan you have now.
  2. An advisor talks it through with you and sends a written proposal with the fees, so you can weigh it against the state program.
  3. If you choose your own plan, we coordinate the setup with you and your payroll provider. You then certify your exemption with the state.
Request a proposal

Prefer to talk? Call (484) 275-5525, Monday–Friday, 9am–5pm ET.