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.
- How will I know when I have to register and enroll my employees?
All eligible Connecticut employers are required by law to facilitate MyCTSavings if they don't offer a retirement plan for their employees. Initial registration deadlines have passed for previously notified businesses, but you can still take action to avoid enforcement penalties in 2024.
Each year, MyCTSavings will review state data to identify newly eligible employers for the program. 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.
- 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.