Dear Chamber and Industry Executives:  

 

MyCTSavings is providing this newsletter so you can share the information with your members. While helping employees save for the future, MyCTSavings gives employers a competitive edge in hiring and retaining staff. Please contact me if you’d like to host a 30-minute webinar, a 5-minute update or formal presentation at a meeting, or a table display at an event.      

 

Happy Holidays and Happy New Year, 

Lisa Kidder 

lisa.kidder@ct.gov 

Enroll in MyCTSavings and your employees can

start saving for their retirement in 2025! 

 

The MyCTSavings program is a free and easy to implement retirement savings option for small businesses to offer their employees. When your business registers and enrolls employees in the MyCTSavings program, you are giving your employees a gift the opportunity to save for retirement and build a more secure financial future.   

 

State law requires that businesses with 5 or more employees that do not offer a retirement plan either sign up for MyCTSavings or provide another qualified retirement plan. With MyCTSavings, employees can choose a standard Roth IRA, customize a Roth IRA, or opt-out of saving (only 18% opt-out). The account belongs to them, and as an employer, your only responsibility is to process their contributions through payroll and keep your payroll information up to date.   

 

Visit myctsavings.com for program details, enrollment resources, and how-to videos and webinars. Information is available in Spanish on the website, and translation services for other languages are available for employers at 1-833-811-7435 or employees at 1-833-811-7436.  

  

Visit MyCTSavings
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MyCTSavings is overseen by the Connecticut Office of the State Comptroller (“Comptroller”). Vestwell State Savings, LLC, dba Sumday Administration (“Sumday”), is the program administrator. Sumday and its affiliates are responsible for day-to-day program operations. Participants’ who use MyCTSavings beneficially own and have control over their Roth Individual Retirement Accounts (“IRA”), as provided in the program offering set out at myctsavings.com.