Reminder: MyCTSavings Registration Requirement for Businesses with 5 or More Employees

As a reminder, businesses with 5 or more employees who do not offer a retirement plan and have been in business since January 1, 2023 are required to either register and enroll employees in MyCTSavings, or provide another qualified retirement plan. Once enrolled, employees have the option to opt-out, stay with the standard Roth IRA, or customize a Roth IRA by setting the deduction percentage and choosing from several fund options. 

Find more information as well as welcome and payroll submission webinars at https://myctsavings.com.