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Where can I find information about investments, fees, risks, and other program details?
The information you want is detailed in our Program Description.
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Where do my automatic contributions go?
They’re deposited into a Roth IRA that is yours to keep for life and that you control completely.
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Where should I turn if I have an issue or concern with a MyCTSavings account?
We're always available to answer any questions or concerns you may have. Whether you want to call, email, or send us something by mail, you can get our contact information here.
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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...
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Which company is administering the program?
The Connecticut Retirement Security Program has selected Vestwell State Savings, LLC, dba Sumday Administration, as the program’s new administrator. Sumday, a Vestwell Holdings, Inc. company, is an experienced retirement and college savings services provider and will act as the IRA trustee, manage...
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Who can I contact if have an issue related to the program or have more questions?
You can find many answers to program details here, or you can call our helpful and knowledgeable account representatives at 1-833-811-7435, Monday – Friday, 9 a.m. – 6 p.m. ET.
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Who is responsible for choosing the available investment options?
The State Comptroller, in consultation with the Connecticut Retirement Security Program Advisory Board, whose mission is to “promote and enhance retirement savings for private sector employees in the State,” is responsible for making decisions about the investment options available in the program.
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Who is responsible for choosing the investment options for participants?
The Comptroller, in consultation with the Connecticut Retirement Security Program Advisory Board, is responsible for making decisions about the investment options available to participants of the program.
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Why does a program like this exist?
The retirement savings crisis is a serious problem in the United States. In fact, nearly 70% of Americans are concerned that they don’t have enough money for retirement.1 In Connecticut alone, about 600,000 private-sector workers don’t have access to a qualified retirement savings plan at work, and...
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Why don’t MyCTSavings contributions show up on my W2?
MyCTSavings acts as a payroll deduction IRA, not a retirement plan as defined for the W2, so you won’t see your contributions reflected on your W2. Your IRA trustee will file Form 5498 IRA Contributions Information with the IRS, and you will receive a copy no later than May 31. You do not need to...