Officials seek comment on creation of state-sponsored retirement account

Retirement account would be for private sector.
Retirement account would be for private sector.

HARTFORD, Conn. – State officials are seeking public comment regarding the feasibility of a state-sponsored retirement plan for all private sector employees.

State Comptroller Kevin Lembo and State Treasurer Denise Nappier, who co-chair the Connecticut Retirement Security Board created this year to come up with a plan, are looking for public comment on a market feasibility study that is due to the legislature by Jan. 1, 2016.

The market feasibility study will include a market analysis, recommend a plan design based on the results of such market analysis, and an assessment of the financial feasibility based on both the market analysis and recommended plan design. The state set aside about $400,000 in the most recent state budget for the study.

Lembo and Nappier said they are requesting written comment in order to help the board with its market feasibility study.

See the complete story at CT News Junkie.


4 responses to “Officials seek comment on creation of state-sponsored retirement account”

  1. LWitherspoon

    Hartford’s financial responsibility is so outstanding, it’s high time we put them in charge of everyone’s retirement account. What could possibly go wrong?

  2. piberman

    Why would anyone even question the ability of the nation’s poster child for mismanagement of state finances to offer retirement accounts ? Bring on the money printing machine.

  3. John Hamlin

    Great idea in a vacuum. But the practicalities of the State if Connecticut running a private retirement account are frightening.

  4. One and Done

    Just when you thought negative returns on SS were bad, the state will take losing your retirement dough to new levels.

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