MyCTSavings Enrollment Deadline is August 31, 2023!
MyCTSavings is a retirement savings option sponsored by the Connecticut Office of the State Comptroller. MyCTSavings is free to employers, providing their employees with access to a retirement savings account through payroll deductions. Employers with five or more employees that do not offer a retirement plan are required by law to participate or certify that they offer a qualified retirement plan.
Over the summer, notices are being sent to newly eligible businesses, as well as businesses that received notifications to participate in MyCTSavings prior to March 2023. The deadline to respond is August 31, 2023.
“Before MyCTSavings, nearly 600,000 workers in Connecticut didn’t have access to a retirement plan through their job, but we’ve changed that,” said Connecticut State Comptroller Sean Scanlon.
More than 17,000 employees are now saving for retirement with a Roth IRA because their employers registered for MyCTSavings. More than 4,600 businesses have registered, and offering a retirement option helps these businesses to attract and retain talented employees.
Visit myctsavings.com for details. For questions, call 1-833-811-7435 (9 am – 6 pm, M-F), or email clientservices@myctsavings.com.
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