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When you enroll in MyCTSavings your employees can save for retirement
If your company has 5+ employees and does not offer a retirement plan, state law requires that you register with MyCTSavings or another qualified retirement program and offer the plan to your employees. If your business has received a notification from MyCTSavings and have not registered, you can still sign up today at www.myctsavings.com.
MyCTSavings is free for businesses and simple to facilitate. Sign up and MyCTSavings will contact your employees and explain their choices. They can opt out, keep the standard Roth IRA or customize their Roth IRA. Studies show that employees who are auto enrolled in a retirement program with payroll contributions, they are far more likely to save. Help your employees start on the path to a more financially secure future by enrolling for MyCTSavings today.
MyCTSavings works to pre-exempt employers that already offer retirement plans. However, if your company already offers a retirement plan and has received a notification, please go to www.myctsavings.com, and enter the access code to exempt your business. The program will remove your business from the list.
With the launch phase of MyCTSavings complete, businesses that become eligible for the program will be notified annually. Click Employer FAQs - MyCTSavings for detailed eligibility criteria. If you believe your business is eligible and you would like to enroll now, you can call 1-833-811-7435 and request enrollment information.
Can individuals enroll in MyCTSavings?
If you are self-employed or don’t work for an employer registered for MyCTSavings, you can self-enroll and contribute directly to your own Roth IRA: myctsavings.com/savers
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