Member Announcements

MyCTSavings – Employees Save at No Cost to Employers

The MyCTSavings retirement program allows your employees to save for retirement through payroll, at no cost to your business.

Many small business owners would like to offer retirement savings to their employees, but can’t always do so. MyCTSavings, a retirement program offered through the Office of the State Comptroller, is free to businesses. The program is easy to facilitate through payroll and can help your company hire and retain talented staff.

When employees have access to save for retirement through automated payroll contributions, participation rates soar. A 2021 study from the Employee Benefit Research Institute showed that 82% of employees with access to a retirement plan through their employers had $25,000 or more in savings and investments. Among employees without access to savings through payroll, only 28% had more than $25,000 saved.

When you enroll your business with MyCTSavings, your employees will have the option to start saving and build a more secure financial future. Businesses with 5+ employees that do not offer a retirement plan are required by law to enroll in MyCTSavings or offer another qualified retirement savings plan.

If your business has already received a notification from MyCTSavings, go to www.myctsavings.com to enroll, or for more information contact the Employer Assistance Line at 833-811-7435.

Individuals can enroll, too!

If you are self-employed or don’t work for an employer registered for MyCTSavings, you can self-enroll and contribute directly to your own Roth IRA: myctsavings.com/savers.

Guest Speaking Opportunity for Business Leaders at EdAdvance

EdAdvance Adult Education is looking for a business leader from the Northwest CT Chamber to be a Guest Speaker for students in our Adult Education programs. Guest speakers in the past have given an evening-time (5:00 or 7:00 PM) virtual talk to High School Credit Diploma/GED/Intermediate ESL students, typically all in one virtual session, while students are logged in from our classrooms in various sites across Litchfield County. Our Credit Diploma and GED students typically range in age from 17-24, but can be (and are) any age!

These are students who are looking to complete their high school diplomas and move into the workforce. Many of our students do hold jobs now but are looking to advance or achieve higher-paying jobs once they complete their diplomas. The Guest Speaker program is aimed at giving students a look into what business opportunities exist in their local area, and hearing any advice that might help them as they finish up their degrees and start applying for jobs.

If you are interested in being a guest speaker, please contact Denise Dombrowski, School Counselor, EdAdvance Adult Education by email at dombrowski@edadvance.org or by phone at (860) 567-0863 x1133.