WASHINGTON SAVES

What is Washington Saves?

Washington Saves is a state-run retirement savings program set to launch in 2027. Designed to ensure that all employees have access to a retirement plan, it requires businesses to facilitate payroll deductions for employee contributions.

Blue letter 'N' logo with a stylized white eagle in front, followed by the word Nationwide in black text.
Black and white icon of a wave with the WealthWave - The money milestones company below that.
Retirement plans through Renton Chamber promoted as part of 2025 Washington Saves legislation. Details include employer obligations and qualifications. Contact info provided.

How Does It Work?

  • Employees will have individual retirement accounts, similar to a 401(k).
  • Businesses are responsible for managing contributions and covering administrative costs set by the state.
  • Employers who do not already offer a retirement plan will be required to enroll in Washington Saves.

An Alternative Option for Businesses

To give businesses more control and lower costs, the Chamber has partnered with Wealth Wave and Nationwide to offer 401(k) plans that:

  • Share costs across multiple businesses, reducing expenses.
  • Eliminate fiduciary responsibility for employers.
  • Handle all administrative work—including paperwork and filings—on behalf of businesses


Why Choose This Alternative?

  • More Flexibility – Businesses maintain control over their retirement plan instead of defaulting to the state-run program.
  • Lower Costs – Cost-sharing means reduced expenses as more businesses participate.
  • Less Administrative Work – All plan management is handled by experienced providers.


Get Started Today

Learn how your business can prepare before Washington Saves takes effect. Contact us to explore your retirement plan options.