IS YOUR BUSINESS COMPLIANT?

MyCTSavings is the state-sponsored retirement program for employers with 5+ employees (full-time and part-time), that do not currently offer a retirement plan.  State law requires that employers not currently offering a retirement option either register and enroll in the MyCTSavings program, which is free to the business or organization, or adopt a private retirement plan, like a 401(k), 403 (b), or a SEP.   Up to this point, there have been no penalties for non-compliance. However, starting January 1, employers that did not respond to prior notifications can be assessed a fine for not complying with the law.  The Windham Region Chamber of Commerce is hosting a lunch presentation on this topic at our monthly Women’s Leadership Council meeting on Thursday, December 4 at noon at Lakeview Restaurant.  This meeting is in person for women owners.  We will be hosting a virtual webinar on Thursday, January 15 at noon.  If you need more information or assistance in setting up your own plan please email us at info@windhamchamber.com.