MyCTSavings vs. a Guideline 401(k)

Meet Connecticut’s retirement mandate with a simple, powerful Guideline 401(k).

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The mandate in a nutshell

Connecticut MyCTSavings was established in 2021. It requires Connecticut employers with five or more employees on October 1st of the previous calendar year to offer the state-sponsored plan or a qualified alternative like a Guideline 401(k). Compare your options

  • 5+ employees

    Initial deadlines have passed, sign up immediately to avoid penalties

Meet the mandate and more with a Guideline 401(k)

  • Simple setup

    Get started in 20 minutes. We’ll help you choose a plan that meets the mandate and your business’s goals.

  • Automated busywork

    Integrations with payroll providers means no need to maintain deductions or manually re-enter payroll data.

  • Live support

    You and your team get access to live support, guided employee onboarding, a mobile app, and more.

Compare MyCTSavings with Guideline Starter

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  • Retirement plan type

    Starter 401(k)

    Roth IRA

  • Maximum employee contributions for 2024



  • Employee asset-based fee


    ($15 for every $10,000)


    ($26 for every $10,000)

  • Additional active employee fees


    $26/year account fee

    (charged quarterly at $6.50 each quarter)

  • Monthly employer fee

    $39 / month + $4 per participant


  • Investment options



    (Including Target Date Funds)

  • Professionally managed portfolios



  • Employer match



  • Profit sharing



Keep your business in compliance. Set up a Guideline 401(k) in just 20 minutes.

Looking for a more robust plan? Look no further.

Starter 401(k) plans do have limitations like lower contribution limits and no employer contributions. If you’d like to set up a plan with more options and flexibility, you may want to consider Core or Enterprise.

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Paul M.Beaufort Fairmont Talent Solutions
Guideline 401(k) reduces my administrative workload, and it's easy to use for me and for my employees.Client of Guideline. Views may not be representative of other clients.

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Connecticut retirement mandate FAQs

What is the mandate?

The Connecticut MyCTSavings Program was created to encourage more people to save for retirement. It requires Connecticut employers with 5 or more employees to provide access to a retirement plan. The plan can either be a private plan like a 401(k) or the state-sponsored plan.

Which employers are impacted by the retirement mandate?

You are eligible to participate in the Connecticut MyCTSavings Program if:

  • Your business is registered to conduct business in the state of Connecticut
  • You employed five or more employees in Connecticut on October 1st of the previous calendar year
  • You paid at least five employees $5000 or more in taxable wages in the previous calendar year
  • You don’t currently offer a qualified retirement savings program to your employees

Does Guideline satisfy the retirement mandate?

Yes. All of Guideline's 401(k) plans are designed to satisfy state program requirements and are priced to be affordable for businesses of all sizes.

Can I move from Guideline Starter to a standard 401(k)?

While it is possible for a plan to convert from a Starter 401(k) to a standard 401(k) plan at Guideline, the transition cannot take place until the beginning of the next calendar year. Learn more here.