Get answers to frequently asked questions

MyCTSavings is a new retirement savings program created to help Connecticut’s 600,000 private-sector employees without access to employer-sponsored retirement plans. Here are answers to many of the common things we’ve been asked. If you have questions beyond these, we’re here to help. Just drop us a line.

Can I have a designated employee or payroll services provider complete the registration and enrollment process?

Yep. You can elect to add “Admins” to your account to help facilitate the MyCTSavings program if you choose not to do it yourself. This could be an authorized employee or even staff from your payroll provider. Best of all, the program is designed to work seamlessly with many payroll provider systems.

What is the difference between registration and enrollment?

You are required to register for MyCTSavings if you do not already offer a qualified retirement plan of your own. Once you have registered for the program, you must enroll your employees so they can review their options under the plan.

If I offer MyCTSavings to my employees now and then decide to offer a qualified retirement plan later, what do I do?

Employers that choose to introduce a qualified retirement plan after enrolling employees in the MyCTSavings program should contact our client services team at 1-833-811-7435 and request to “unregister.” We will begin the manual process of exempting your business from the program and adjusting your employees’ accounts as needed. You should communicate what is happening to your employees and inform participating employees that they can still access their MyCTSavings account after you’ve exempted out of the program.

How will I know when I have to register and enroll my employees?

You’ll get a series of reminders and enrollment communications from MyCTSavings when it’s time for you to participate. This will also be your chance to certify your exemption from the program. Unless your business is exempt, required participation in the MyCTSavings program is based on the following enrollment waves:

Can my company join the program before its required date?

You can join at any time. The required date though, is your deadline to comply.

Which businesses are eligible to participate in MyCTSavings?

All qualified employers with five or more employees in Connecticut — at least five of whom have been paid more than $5,000 in the calendar year — are required by law to join MyCTSavings if they don’t offer a retirement plan for their employees.* If your business offers a qualified retirement plan to your employees, it does not have to participate in MyCTSavings.

*A qualified employer is any employer, whether for profit or not for profit, that had five or more employees in Connecticut on October 1, 2021, at least five of whom were paid $5000 or more in taxable wages in 2021. 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.

Are H-2A visa holders eligible for the program?

Yes, however, they can be enrolled and have an account created for them only if they work for more than 120 days and if enough verifiable information is available to create an account in their name. If the program is unable to verify their information, an account will not be established for them.

Are my employees who live in other states eligible for Connecticut’s program?

Yes, if the employees’ services are performed in Connecticut, they are eligible to participate in MyCTSavings.

If I have employees in multiple states, including Connecticut do I just facilitate the State's program for employees in Connecticut?

Yes, you would need to facilitate the program only for employees whose services are performed withinConnecticut.

Are seasonal employees eligible?

Yes, if they work for you for at least 120 days, which is the window for you to enroll new hires. If they work for fewer than 120 days, you will not need to enroll them.