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  1. MyCTSavings
  2. Employer Support
  3. Frequently Asked Questions
  4. Employer FAQs

Employer FAQs

  • Is there a minimum age to be eligible to participate in MyCTSavings?
  • Which businesses are eligible to participate in MyCTSavings?
  • Can I have a designated employee or payroll services provider complete the registration and enrollment process?
  • When do I need to enroll new employees?
  • What if an employee asks me for advice about the program or its investment options?
  • What if an employee already has a MyCTSavings account through another employer?
  • What do employees need to do after I enroll them?
  • How does registration work?
  • Is there a penalty for late or omitted payroll deductions?
  • What if a business doesn’t register for the program as required by law?
  • Are there any fees for employers to participate?
  • Can I have a designated employee or payroll services provider complete the registration and enrollment process?
  • Why isn’t there a national program like this?
  • Are services available in other languages?
  • What was the legislation that created MyCTSavings?
  • What is a qualified, employer-sponsored retirement plan?
  • Do employers have to facilitate this State program?
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