The Connecticut Retirement Security Program was created to help
small businesses provide employees with an easy way to save for retirement at
work. The program will provide for
payroll deduction Private IRA accounts that will be of no cost to employers. This
retirement savings option will help 600,000 workers grow retirement savings so
they can take control of their future.
Connecticut could save
over $90 million if lower income retires save enough to increase their
retirement income by only $1,000 a year. The program will begin implementation over the
next several months. AARP applauds the
progress made in bringing this program to a reality, and urges lawmakers to
keep support going for this critical program.