Virginia small business owners: Does RetirePath now apply to you?

Virginia employers: RetirePath’s expanded requirements may mean new responsibilities for your business.

As of July 1, 2026, businesses may be required to participate if they:

* Have operated for at least two years
* Employ 5 or more eligible employees
* Do not offer a qualified retirement plan

Deadlines to register or certify an exemption:

10–24 employees: September 30, 2026
5–9 employees: October 30, 2026

For employees, RetirePath provides a way to build retirement savings through payroll deductions, with the flexibility to opt out or adjust contributions.

For employers, it means administering those deductions, maintaining employee information, and submitting contributions on time. Employers do not contribute or provide a match.

Already offer a qualified retirement plan? You still need to certify your exemption.

Now is the time to confirm your business’s obligations and prepare for any changes to payroll procedures and employee communications.

For our clients, Mills, Dayton & Company stays on top of requirements like this, so you don’t have to.