The State of Connecticut has announced that in January 2019 it
will begin requiring private-sector employers without their own
workplace-based retirement plans to enroll employees in Individual
Retirement Arrangements (IRAs) sponsored by the state. The
requirement stems from legislation enacted in 2016 that is intended
to help employees save for retirement.
The 2016 legislation established the Connecticut Retirement
Security Authority (CRSA) to oversee a state-run IRA program for
private-sector employees.1 The program was
initially intended to take effect in January 2018, but the CRSA
determined that was not administratively feasible. Scott D.
Jackson, Commissioner of the Connecticut Department of Revenue
Services and chairman of the CRSA, recently announced that
beginning in January 2019 the program will be implemented in phases
modeled on the way Oregon phased in its state-run IRA program
called OregonSaves. Oregon is phasing in the program over
three years,
