Back in 2016, Connecticut enacted legislation that established the Connecticut Retirement Security Program, a state-run Individual Retirement Arrangement (IRA) program administered by the Office of the State Comptroller. After a slow start, this mandatory program officially launched in March 2022. The program requires that private-sector employers with five or more employees in Connecticut — at least five of whom have been paid more than $5,000 in the previous calendar year — join MyCTSavings if they do not already offer a qualified, employer-sponsored retirement plan for their employees.
