JT Washington
Effective September 1, 2025, Nevada’s private-sector employers must provide employees with a tax-favored Individual Retirement Account (IRA) in accordance with the Nevada Employee Savings Trust (NEST) Program. The NEST Program was established by 2023 Senate Bill 305, which was codified in Nevada Revised Statutes Chapter 353D. NEST facilitates automatic employee payroll contributions to state-administered Roth IRAs, providing a retirement savings solution for an estimated 500,000-plus private-sector Nevada workers who do not have an option to save for retirement directly through their employer. Here is how it works:
Covered Employers and Their Responsibilities
Employers that have been in business for at least 36 months, with six or more employees in the State of Nevada, and who do not maintain a tax-favored retirement plan for their employees, such as a 401(k), 403(b), Simplified Employee Pension (SEP), or Simple IRA, must self-enroll in NEST. Employers that enroll in NEST must automatically enroll all eligible employees into NEST or a similar program offered by a trade association or chamber of commerce. Employers that enroll in NEST must also deduct applicable employee contributions from their compensation, submit the contributions to NEST, and distribute designated NEST program materials to their workforce. To remain complaint with NEST, employers must continue to send payroll contributions and maintain employee records, including updating contribution rate changes when needed, adding new employees, and marking former employees as terminated. Read more
