MyCTSavings, a private sector retirement program, is introduced

Comptroller Natalie Braswell has announced the launch of MyCTSavings, a new retirement savings option for Connecticut private sector employees who do not have a retirement plan through their employer.

According to a press release from Braswell”™s office, employers will be required to register for the program if they have more than five employees and do not currently offer a qualified retirement savings option. The program can be integrated into any payroll process and participation for employees is voluntary. If the employee changes jobs, the account can be moved to their new place of employment.

“Everyone deserves a financially secure retirement,” said Braswell. “The MyCTSavings program creates new opportunities for workers to plan for their futures and fills a critical need in the marketplace. The plan is designed to be easy for employers to maintain and is optional for workers to participate.”