diff --git a/tensorflow_addons/optimizers/tests/lookahead_test.py b/tensorflow_addons/optimizers/tests/lookahead_test.py
index 4802bf0fd5..8bf9de046a 100644
--- a/tensorflow_addons/optimizers/tests/lookahead_test.py
+++ b/tensorflow_addons/optimizers/tests/lookahead_test.py
@@ -14,9 +14,12 @@
 # ==============================================================================
 """Tests for Lookahead optimizer."""
 
+import os
+
 import numpy as np
 import pytest
 import tensorflow as tf
+import tempfile
 
 from tensorflow_addons.optimizers import Lookahead
 from tensorflow_addons.utils import test_utils
@@ -186,3 +189,70 @@ def test_serialization():
     config = tf.keras.optimizers.serialize(optimizer)
     new_optimizer = tf.keras.optimizers.deserialize(config)
     assert new_optimizer.get_config() == optimizer.get_config()
+
+
+def _init_model(optimizer, init_w):
+    model = tf.keras.models.Sequential()
+    dense = tf.keras.layers.Dense(input_shape=(3,), units=1)
+    model.add(dense)
+    model.compile(Lookahead(optimizer), loss="mse")
+    dense.set_weights([init_w, np.zeros(1,)])
+    return model
+
+
+def assert_same_optimizer_states(optimizer, new_optimizer):
+    weights = optimizer.weights
+    new_weights = new_optimizer.weights
+
+    assert len(weights) == len(new_weights)
+
+    optimizer_name = optimizer._name
+    len_name_scope = len(optimizer_name) + 1
+
+    def _get_key(weight):
+        name = weight.name
+        if name.startswith(optimizer_name):
+            name = name[len_name_scope:]
+        return name
+
+    weights = sorted(weights, key=_get_key)
+    new_weights = sorted(new_weights, key=_get_key)
+
+    for weight, new_weight in zip(weights, new_weights):
+        assert np.allclose(weight.numpy(), new_weight.numpy(), atol=1e-4)
+
+    # Assert recursively
+    if hasattr(optimizer, "_optimizer"):
+        assert_same_optimizer_states(optimizer._optimizer, new_optimizer._optimizer)
+
+
+@pytest.mark.parametrize("optimizer", ["sgd", "adam"])
+@pytest.mark.parametrize("weights_only", [False, True])
+def test_save_load(optimizer, weights_only):
+    x = np.random.standard_normal((10000, 3))
+    w = np.random.standard_normal((3, 1))
+    y = np.dot(x, w) + np.random.standard_normal((10000, 1)) * 1e-4
+
+    init_w = np.random.standard_normal((3, 1))
+
+    model = _init_model(optimizer, init_w)
+    model.fit(x, y, epochs=2, shuffle=False)
+
+    with tempfile.TemporaryDirectory() as ckpt_dir:
+        new_model = _init_model(optimizer, init_w)
+        new_model.fit(x, y, epochs=1, shuffle=False)
+
+        ckpt_path = os.path.join(ckpt_dir, "model.ckpt")
+        if weights_only:
+            new_model.save_weights(ckpt_path)
+            new_model = _init_model(optimizer, init_w)
+            new_model.load_weights(ckpt_path)
+        else:
+            new_model.save(ckpt_path)
+            new_model = tf.keras.models.load_model(
+                ckpt_path, custom_objects={"Lookahead": Lookahead}
+            )
+
+        new_model.fit(x, y, epochs=1, shuffle=False)
+
+        assert_same_optimizer_states(model.optimizer, new_model.optimizer)