Connecticut · statute · Conn. Gen. Stat. ch. 574 · 15 active provisions
As used in this section, section 31-71e and sections 31-417 to 31-427, inclusive: (1) “Board” means the Connecticut Retirement Security Advisory Board established pursuant to section 31-417; (2) “Consumer” has the same meaning as provided in section 17b-706; (3) “Contribution level” means (A) the contribution rate sele…
(a) There is created the Connecticut Retirement Security Advisory Board which shall consist of the following fifteen voting members, each a resident of the state: (1) The State Treasurer; (2) the State Comptroller; (3) the Secretary of the Office of Policy and Management; (4) the Banking Commissioner; (5) the Labor Com…
(a) There is established the Connecticut Retirement Security Program, the purpose of which shall be to promote and enhance retirement savings for private sector employees in the state, to be administered by the Comptroller. The office of the Comptroller shall constitute a successor agency to the Connecticut Retirement…
Section 31-418a is repealed, effective May 7, 2022.
(a) The Comptroller shall prepare informational materials regarding the Connecticut Retirement Security Program for distribution by qualified employers to plan participants and prospective plan participants pursuant to section 31-422. Such informational materials shall include, but need not be limited to: (1) The benef…
(a) The Comptroller shall provide for the establishment and maintenance of an individual retirement account for each program participant. Such individual retirement account shall be established and maintained through the program. Program assets shall be held in trust or custodial accounts meeting the requirements of Se…
(a) The Comptroller, in conducting the business of the program shall act: (1) With the care, skill, prudence and diligence under the circumstances then prevailing that a prudent person acting in a like capacity and familiar with such matters would use in the conduct of an enterprise of like character and with like aims…
(a)(1) Not later than January 1, 2018, and annually thereafter, each qualified employer shall provide each of its covered employees with the informational materials prepared by the Comptroller pursuant to section 31-419. For any employee of a qualified employer who (A) is hired on or after January 1, 2018, or (B) does…
(a) The Comptroller shall provide for each participant's account to be invested in (1) an age-appropriate target date fund, or (2) other investment vehicles the Comptroller may prescribe if affirmatively selected by the participant. (b) For each participant who receives a federal Saver's Match contribution pursuant to…
(a) The Comptroller shall adopt regulations, in accordance with the provisions of chapter 54 governing the distribution of funds from the program. Such regulations shall allow for such distributions as may be permitted or required by the program and any applicable provisions of the Internal Revenue Code of 1986, or any…
(a) The Attorney General may investigate any violation of section 31-421. If the Attorney General finds that any member of the Connecticut Retirement Security Advisory Board, or any agent engaged or appointed by the Comptroller or the board has violated or is violating any provision of said section, the Attorney Genera…
(a) The Comptroller shall keep an accurate account of all its activities, receipts and expenditures of the Connecticut Retirement Security Program and shall submit, in accordance with the provisions of section 11-4a, a report detailing such activities, receipts and expenditures to the Connecticut Retirement Security Ad…
(a) The Comptroller shall: (1) Establish and maintain a secure Internet web site to (A) provide qualified employers with information regarding employer-sponsored retirement plans and payroll deduction individual retirement accounts, and (B) assist qualified employers in identifying vendors of retirement arrangements th…
The Comptroller shall establish and maintain a secure Internet web site to provide Connecticut Retirement Security Program participants with information regarding the various investment options offered through the program, including the historical investment performance of such options.
(a) No member of the Connecticut Retirement Security Advisory Board, except the State Comptroller or State Treasurer, or any executive director, assistant executive director or authorized officer appointed by said board or the principal of an entity with a contract with the Comptroller to administer the Connecticut Ret…