Connecticut’s state retirement savings program

Retirement mandates have arrived in Connecticut. Employers meeting certain requirements must offer either the state-facilitated retirement program, or a qualified alternative to their employees.

Reach out to the ePlan Services team today to learn more about Connecticut’s retirement mandate and set up a plan in 24 hours.

What to know about MyCTSavings

MyCTSavings is Connecticut’s retirement savings program. Here are the basics:

  • Program Status: Open for enrollment
  • Employer Participation: Mandatory
  • Program Type: Roth IRA
  • Penalty: $500 annually (5-24 employees); $1,000 annually (25-99 employees); $1,500 annually (100+ employees)
  • Employer Requirements: Employers with five or more employees who do not offer a qualified retirement plan
  • State Website: MyCTSavings
Implement a 401(k) for your business within 24 hours