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The Retirement Marketplace

Maintains a website where people can comparison shop for state-verified, low-cost retirement savings plans. Each retirement plan listed on the Retirement Marketplace adheres to the following requirements: - Must first be verified and approved by Washington State officials at the Department of Financial Institutions and/or the Office of the Insurance Commissioner to ensure it complies with Retirement Marketplace requirements. - Cannot charge administrative fees to employers. - Cannot charge enrollees more than 1% in total annual administrative fees. - Must go through an annual renewal process to ensure the plan and provider remain in good standing.

Physical Address

Hours

24 hours daily.

Application process

Visit website. Users can take a guided tour with a set of questions that help identify a plan that best suits their needs. They can also go directly to all plans for a side-by-side comparison. When a user identifies a plan of interest, they will get a link directly to the private plan provider to review the details of the plan and initiate enrollment.

Fee

None.

Eligibility

Washington state residents, including businesses and individuals, sole proprietors, “gig” workers and the self-employed.

Service area

WA

Agency info

Washington State Department of Commerce

Works to strengthen communities in Washington by growing the economy, strengthening communities and individuals, and promoting Washington state.