Submitted on behalf of the Office of the State Comptroller.
Nearing Retirement? We're here to help you prepare...
Retirement is an exciting life change. The Office of the State Comptroller is here to make the transition easier and to help you navigate the process.
On our website, you can find video workshops for State of Connecticut employees who are nearing retirement. Simply click the "Video Workshop" icon under your tier.
Get Help with Defined Contribution Plans
Join a Live Q&A Webinar!
Meetings are scheduled January 10-14th.
Defined contribution plans can supplement your pension income and are an important part of many employees' retirement planning. If you participate in the Alternate Retirement Program, or if you are a member of Tier IV, you are already part of a defined contribution plan. Additional, voluntary retirement savings plans are open to all state employees. Even if you're not close to retirement, you should know about the defined contribution plans that are available to you.
We'll be offering webinars, with live Q&A sessions, during the week of January 10th.
To join, go to the “Meet Your Counselor” page, click on "CT Group Meeting Calendar", and then select "Ask a Retirement Counselor". You can also click on the button below to view the calendar and join a meeting.
View the CT Group Meeting Calendar
Watch Recorded Workshops on Defined Contribution Plans
Whether or not you can attend our webinar, you can learn more about defined contribution plans through a special website that's dedicated to State of Connecticut Defined Contribution Plans: www.ctdcp.com. There you will find the following workshops and presentations on the “Your Tools” page:
- How to fill out the form for deferral of vacation and sick leave payouts from your final paycheck
- Advantages of staying in the plan after retirement
- Why you should review and update your beneficiary designation
- What are your options for withdrawing funds when you retire
- What happens if you’re rehired after retirement
- Required minimum distribution (RMD) requirements
- How to keep your account secure
- What investment options are available to you
For important information about the 2022 IRS Contribution Limits and the State of CT Payroll Contribution Cut-Off Calendar, please read our recent memo here.
ARP and Hybrid Plan Members:
A retiring member of the ARP, or a Hybrid Plan member who elects a Lump Sum Payment, will not be entitled to retiree health coverage unless he or she uses plan assets to purchase an annuity in the minimum amount of $10,000. To preserve spousal health benefits after the member's death a married member of the ARP, or a married member of the Hybrid Plan electing the Lump Sum Payment, must purchase a minimum $10,000 two-life annuity naming his or her Spouse as co-annuitant. Please consult the Retiree Health Insurance eligibility memorandum here. Upon retirement, you should call Prudential at 844-505-7283 to start the process of establishing the annuity.
Retirement Resources
For more information, contact: OSC at osc.rsd@ct.gov