What benefits does the program offer and why was it created?
An estimated 600,000 Connecticut employees do not have access to a qualified retirement savings plan at work. To address this urgent need, the Connecticut Legislature passed a law that created MyCTSavings to make it easier for more workers to save for their retirement. The program uses automatic enrollment and savings through payroll deductions to help employees save. Eligible employees can opt out if they don’t want to participate or prefer to save another way.