New Retirement Savings Program for Nevada Workers

Attention Nevada Employers — Government Mandated Enrollment Roll Out

The Nevada Employee Savings Trust Program – NEST

State Administered Employee Individual Retirement Account – IRA

UPDATE: June 24, 2025

Click for the New website…The NEST program has a new website
This is the portal to the NEST online system. It includes links for employers and savers (employees). There is also a Resources page for Employers, Resources for Savers, and general Financial Resources. There are many other retirement resources on this page. Make sure to scroll down to see all of the included links to resources.

In 2023, the Nevada Legislature passed and the governor signed Senate Bill 305 into law. This law formed what is known as NEST or Nevada Employee Savings Trust program.

The intent is to give all employees of private companies with 6 or more employees the ability to have income withheld from their paychecks for investment in a retirement plan.

What do we know at this time? First, it is a work in progress. Meaning all the necessary parts are not yet created by the government — Nevada Treasurer and NEST Trustees.

But the established Board of Trustees has set July 1, 2025 for Covered Employers to register with the state. There may be a website rolled out sometime next month. Keep your eye out for it.

Which Nevada Employers are Impacted?

• All privately-owned, for-profit and not-for-profit companies.
• With 6 or more employees.
• In business for 36 months or more. Or 24 months if you read the language in the law.
• Covered employers must automatically enroll all covered employees. Exception: Employers who already offer a Tax-Favored workplace retirement plan like 401(k) or others.
• Must withhold employee funds for the NEST Individual Retirement Account.
• And send these funds to the NEST Trust account.
• NOTE: Employees can opt out of participating in the NEST retirement savings program.
• NOTE: Check with your retirement financial advisor if you want to set up a managed program outside of the NEST program.
• NOTE: Check with your financial or legal advisor for all details of your company’s participation or exemptions.

Why this matters to your business?

The Nevada Treasurer and the Board of Trustees do not have the administrative code written yet…at least as far as I could see. But, if you are a Nevada employer with 6 or more employees, it looks like you will have to sign your company up. And enroll your employees unless they opt out. So, I will leave you with the resources I have discovered to review.

NEST Program Resources

1. Nevada Senate Bill SB305-2023
2. Nevada Nest Program Fact Sheet
3. Nevada Treasurer’s NEST website
4. Nevada Employee Savings Trust Board Members

Financial Advisors Retirement Specialists

1. Jim Morman, Financial Advisor with Edward Jones | 775-353-1039 | Sparks, NV
2. Karen Vibe, Private Wealth Advisor with Ameriprise Financial Services LLC | 775-683-4844 | Reno, NV

Return to our Blog page here

Read: Employment Law Compliance – Federal Level