Program details

All eligible Connecticut businesses are required by law to facilitate MyCTSavings if they don’t offer a retirement plan for their employees.

The deadline of August 31, 2023, applied to:

  • employers who were part of the initial rollout and previously received a notification to take action

  • newly eligible employers who will be notified in advance of the deadline.

Newly eligible businesses

You may now be eligible for MyCTSavings because you’ve added employees and are now above the 5 employee threshold or because you started your business before October 1 of last year.

Newly eligible businesses will receive a notification that they are required to sign up for MyCTSavings or certify exemption from the program. The next deadline will be in 2024.

Businesses previously notified

Your registration deadline has passed.

Don’t wait. Take action today to avoid enforcement penalties in 2024!

Employer eligibility

You’re required to register if you:

  • Have 5 or more employees*

  • Do not offer qualified retirement plan

Registration information

To begin, you’ll need your:

  • Federal Employer Identification Number (EIN)

  • MyCTSavings Access Code from your notification

Already offer a retirement plan?

Employers who provide a qualified retirement plan to their employees should certify their exemption from the program using their provided Access Code.

Certify your exemption

Have questions? We’ve got answers in our FAQs.

A list of qualified retirement plans and other questions about eligibility can be found in our FAQs.

Read the FAQs

Your role in three simple steps

We know that running your business is your top priority. That’s why MyCTSavings is easy to set up and requires only light account maintenance. The process takes just three simple steps. We’ll take care of the rest, at no cost to you.

  1. 1 Register
  2. 2 Send contributions
  3. 3 Maintenance

Set up your ID and password, answer questions about your company and payroll process, complete payment setup, and then add your employees.

You can even invite a payroll representative to help you facilitate this process. Your payroll representative can be an admin, a teammate, or even your bookkeeper or payroll administrator.

Once you have added employees, we will communicate directly with them to explain their options during the 30 days they have to opt out or customize their account.

At the end of the 30-day period, we will notify you of their choices and send a reminder to begin payroll deductions, and submit contribution information and funding for the employees who choose to stay in the program.

To stay in compliance, continue to send payroll contributions and maintain employee records, including updating contribution rate changes when needed, adding new employees, and marking former employees as terminated.

Onboard your company for MyCTSavings

There are just a few steps you need to take to get started. Take a look at this video to get you acclimated:


Things you won’t be responsible for

As an employer, you’ll have a limited role in facilitating MyCTSavings so you can stay focused on running your business.

You will not be responsible for:

  • Enrolling employees into their MyCTSavings Roth IRA.

  • Answering questions about MyCTSavings and its investment portfolios, or helping employees choose investments.

  • Managing MyCTSavings investment options and processing employee investment change requests.

  • Processing distributions from employee investment accounts.

  • Managing employee investment account changes. Your employees will be responsible for maintaining their account information and settings if enrolled.

*A qualified employer is any employer, whether for profit or not for profit, that had five or more employees in Connecticut on October 1 of the prior year, at least five of whom were paid $5000 or more in taxable wages in the prior year. Qualified employers do not include those who were not in existence at all times during the current and preceding calendar years, and they do not include any employer employing only individuals whose services are excluded under the unemployment compensation law.