If I offer my employer-sponsored retirement plan only to some employees but not all, do I have to offer the State's program as well?

No, if you offer an employer-sponsored retirement plan to any of your employees, you will file a certificate of exemption and you will not need to facilitate the State's program.

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...

iHeartRadio Interviews Comptroller Braswell about MyCTSavings

Connecticut State Comptroller Natalie Braswell recently spoke with Renee DiNino on iHeartRadio’s Community Access podcast to chat about the MyCTSavings program and how easy it is for employees and employers to participate! MyCTSavings can be easily implemented by employers in a three-step...

In Case You Missed It: Catch the MyCTSavings Webinar from AARP

Calling all Connecticut employers: Did you tune in to AARP’s recent webinar that featured an overview of the state’s new retirement savings program, MyCTSavings? If you happened to miss it, no worries! We’re recapping everything discussed during this helpful event. Want to watch it in full? We have...

Investments

MyCTSavings investment options Investing is about putting your money to work so it grows over time and helps you meet your future needs. With MyCTSavings, you have access to a range of investment portfolios, allowing you to invest your contributions based on your retirement goals. An investment...

IRA Custodial Agreement

Is investing in MyCTSavings the same as putting money in a bank?

No, there are big differences. Banks offer checking and savings accounts that typically pay less interest and might offer other savings and investment products. MyCTSavings helps you save through payroll contributions to your Roth IRA and allows you to invest in various targeted, market-based...

Is my contribution pre-tax or post-tax?

Contributions to MyCTSavings are made on a post-tax basis. The percentage contributed is based on your gross income earned (the amount you make before any taxes or deductions have been taken out) with your facilitating employer. If you also contribute to a Traditional IRA, those contributions may...

Is my employer required to offer MyCTSavings?

Qualified employers with five or more employees in Connecticut — at least five of whom has been paid more than $5,000 in the calendar year — are required by law to offer MyCTSavings.* The only exception is if your employer already offers a qualified, employer-sponsored retirement plan to employees...

Is my personal information reported to government agencies to determine immigration status?

No, reports are not made for the purpose of determining immigration status.