SB620 — AN ACT MAKING THE CONNECTICUT RETIREMENT SECURITY PROGRAM AN OPT-IN PROGRAM, ESTABLISHING THE DEFAULT CONTRIBUTION RATE AS ZERO, REQUIRING THE COMPTROLLER TO BE A LICENSED SECURITY BROKER AND PROHIBITING THE COMPTROLLER FROM SCREENING OR CHOOSING INVESTMENT VEHICLES BASED ON ANY CRITERIA OTHER THAN THE NET RETURNS TO PARTICIPANTS.

SB620 — AN ACT MAKING THE CONNECTICUT RETIREMENT SECURITY PROGRAM AN OPT-IN PROGRAM, ESTABLISHING THE DEFAULT CONTRIBUTION RATE AS ZERO, REQUIRING THE COMPTROLLER TO BE A LICENSED SECURITY BROKER AND PROHIBITING THE COMPTROLLER FROM SCREENING OR CHOOSING INVESTMENT VEHICLES BASED ON ANY CRITERIA OTHER THAN THE NET RETURNS TO PARTICIPANTS. · Informed CitizenryThis bill proposes to change the Connecticut Retirement Security Program into an opt-in program, meaning employers would no longer be required to enroll covered employees; instead, employees must c…Open in Informed Citizenry