For more stories like this, sign up for the PLANSPONSOR NEWSDash daily newsletter.
CT State 401(k) Plan Proposal Dies as Session Ends
Senate Bill 652 was among a host of bills on the state House schedule for consideration as the session wound down, but the measure never came up for a vote, according to legislative records.
Backed by a coalition of Democrats including Senate President Pro Tem Donald Williams, the measure would have allowed the state comptroller to have the program created for employers with fewer than 100 workers.The bill would also apply to self-employed individuals and tax-exempt nonprofit organizations, which could get payroll deduction IRAs and other offerings in a voluntary program with no mandatory employer contribution (See Bill to Create State DC Plan Passes CT Senate ).
The bill passed the Senate in April on a party line vote of 22 to 11.