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  • 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...

  • 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.

  • Is MyCTSavings the same as an employer retirement plan?

    Not at all. Connecticut employers are mandated by State law to facilitate this State-sponsored savings program for employees when the employer does not offer its own retirement plan.

  • Is the contribution rate based on gross or net income?

    Your contribution rate is based on your gross income (total income before taxes and other regular deductions are taken).

  • Is there a fee for participating in MyCTSavings?

    There is an annual asset-based fee paid as a percentage of the money in your account. The fee for each investment option you choose is approximately 0.22% of its value per year ($0.22 for every $100 saved), which includes the investment management fee for underlying funds. There is also a $26...

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myctsavings
  • Employers
  • Savers
  • Help & Resources
  • About Us
  • Contact Us

Employer assistance
1-833-811-7435

Employee assistance
1-833-811-7436

clientservices@myctsavings.com

Terms & Conditions

Program Description

Privacy Policy

Connecticut Retirement Security Authority

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MyCTSavings is overseen by the Connecticut Retirement Security Authority (“CRSA”). Vestwell State Savings, LLC, dba Sumday Administration (“Sumday”), is the program administrator. Sumday and its affiliates are responsible for day-to-day program operations. Participants’ who use MyCTSavings beneficially own and have control over their Roth Individual Retirement Accounts (“IRA”), as provided in the program offering set out at myctsavings.com.

MyCTSavings’ Portfolios offer investment options selected by the CRSA. For more information on MyCTSavings’ Portfolios, go to MyCTSavings.com. Account balances in MyCTSavings will vary with market conditions and are not guaranteed or insured by the CRSA, the State of Connecticut, the Federal Deposit Insurance Corporation (“FDIC”) or any other organization.

MyCTSavings is a completely voluntary retirement program. Saving through a Roth IRA will not be appropriate for all individuals. Employer facilitation of MyCTSavings should not be considered an endorsement or recommendation by your employer of MyCTSavings, Roth IRAs, or these investments. Roth IRAs are not exclusive to MyCTSavings and can be obtained outside of the program and contributed to outside of payroll deduction. Contributing to a MyCTSavings Roth IRA through payroll deduction offers some tax benefits and consequences. You should consult appropriate professional advice or consultation if you have questions related to taxes or investments.

The MyCTSavings name and the MyCTSavings logo are trademarks of the CRSA and may not be used without permission.

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