The Comptroller shall provide for each participant's account to be invested in (1) an age-appropriate target date fund, or (2) other investment vehicles the Comptroller may prescribe if affirmatively selected by the participant.
(P.A. 16-29, S. 8; May Sp. Sess. P.A. 16-3, S. 102, 207; P.A. 19-117, S. 101; P.A. 22-118, S. 103.)
History: P.A. 16-29 effective May 27, 2016; May Sp. Sess. P.A. 16-3 changed effective date of P.A. 16-29, S. 8, from May 27, 2016, to January 1, 2017, effective June 2, 2016, and designated existing provisions re investment of participant's account as Subsec. (a) and amended same to add provision re participant to select vendor and added Subsec. (b) re investment of contribution if participant does not select specific vendor or investment option, effective January 1, 2017; P.A. 19-117 deleted Subsec. (b) re participant not selecting specific vendor or investment option, deleted Subsec. (a) designator, added “if affirmatively selected by the participant” in Subdiv. (2) and made technical and conforming changes, effective July 1, 2019; P.A. 22-118 replaced references to the Connecticut Retirement Security Authority with the Comptroller, effective July 1, 2022.
Structure Connecticut General Statutes
Chapter 574 - Connecticut Retirement Security Authority. Connecticut Retirement Security Exchange
Section 31-416. - Definitions.
Section 31-417. - Connecticut Retirement Security Advisory Board.
Section 31-418. - Connecticut Retirement Security Program.
Section 31-418a. - Request for advance.
Section 31-421. - Comptroller standard of care.
Section 31-423. - Investment vehicles. Vendor selection.
Section 31-424. - Establishment of rules and procedures. Design features.
Section 31-425. - Violations. Permissible civil actions.
Section 31-426. - Annual report. Audit. Memoranda of understanding.
Section 31-428. - Comptroller to establish and maintain Internet web site for participants.