Skip to content

How Will “My CT Savings” Program Impact YOUR Small Business?

How Will “My CT Savings” Program Impact YOUR Small Business?

March 21, 2023

On March 16, NFIB in Connecticut hosted a webinar about the My CT Savings program, a state mandated retirement program.

How Will "My CT Savings" Program Impact YOUR Small Business?

On March 16, NFIB in Connecticut hosted a webinar about the My CT Savings program, a state mandated retirement program. NFIB State Director Andy Markowski was joined by Lisa Kidder, Communications Manager of the MY CT Savings program as well as Matt Golden of VestWell State Savings, which is the program administrator. A program of this type has been discussed in Connecticut since 2008 and in 2016 lawmakers voted to have the program run through the state Comptroller’s Office. There is a date that is coming up fast: small businesses with 5-25 employees must register for My CT Savings by March 30. If you are a small business that doesn’t offer a retirement savings program, have 5 or more full or part time employees who are paid more than $5,000 you must sign up for this program. Lisa Kidder of the My CT Savings program says that this program is free for small business owners and allows small business owners to let their employers to save for the future. Small businesses will be required to facilitate the program, which sends a percentage of their paycheck into a ROTH IRA account. If you have any questions, there is a dedicated line where you can ask questions about the program: 1-833-811-7435.

What We Covered
  • The deadline to take action is March 30th;
  • The “what, when, and how” of registering or opting out;
  • And more!
Resources
  • Contact your Connecticut team!
    • Call State Director Andy Markowski with policy questions at 860.240.6342.
    • Email Grassroots Manager Julianna Rauf with advocacy questions or if you’re interested in becoming more involved at Julianna.Rauf@NFIB.org.
  • Contact the MyCTSavings team!
In Case You Missed It It takes two minutes of your time to contact your legislators and ask them to restore the pass-through entity tax credit and oppose another minimum wage increase. Personalizing your message with your business name and personal story will catch the attention of lawmakers. What’s Next? Now that Connecticut has implemented state-mandated paid family and medical leave (PFML):
  • What do employers need to know about the updates for processing claims?
  • What are the deadlines and employer obligations for this year?
  • And more!
Join NFIB and representatives from the CT Paid Leave Authority on Tuesday, April 25th at 11:30 am EST. >> CLICK HERE TO REGISTER << (https://engage.nfib.org/events/c525c602-6315-4625-8bd1-b46ef0cf483b) As always, please do not hesitate to reach out with any questions. Thank you for your membership!
Get to know NFIB

NFIB is a member-driven organization advocating on behalf of small and independent businesses nationwide.

Receive our newsletter and email notification
Knowledge is power. Let us help you stay informed with breaking legislative news, regulatory updates, business tips, and more.

Related Articles

February 4, 2025
New England Energy Rates & Your Small Business
This exclusive event gave NFIB members the chance to ask questions and get…
Read More
February 3, 2025
Vermont Capitol Update
In his budget address and other public comments, Governor Phil Scott called…
Read More
February 3, 2025
NY Capitol Update: 2025 Executive Budget Proposal
The state has estimated budget gaps of $6.5 billion in 2027, $9.8 billion i…
Read More
January 31, 2025
Gov. Stein Announces $30 Million Grant Program For Small Busine…
Impacted businesses lost $18 billion in revenue because of the hurricane.
Read More

© 2001 - 2025 National Federation of Independent Business. All Rights Reserved. Terms and Conditions | Privacy Policy | Accessibility