CT add state retirement plan

Connecticut announced the launch of MyCTSavings, a new retirement savings option for the more than 600,000 Connecticut private-sector workers who aren’t covered under a retirement plan through their employer.

Employers are required to register for the state program if they have more than five employees and don’t have a qualified retirement plan.

Vestwell is the program’s third-party administrator after a competitive bidding process.

Again, I’m all for retirement plan coverage and this will add more interested employers for pooled employer plans.

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