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.