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CRSA Announces Request for Proposal for Administrative Services & Investment Management

Posted on 05/30/19 by Michael Humes

The Connecticut Retirement Security Authority (CRSA) reached another critical milestone towards a launch with the recent announcement requesting proposals (RFP) for administrative services and investment management.

CRSA Executive Director Mary Fay recently sat with AARP Connecticut Advocacy Director to talk about the new program that will offer retirement security to employees who do not have a plan offered by their employer.

The CRSA is seeking proposals from financial consultants and other professional service providers to deliver certain services related to the Connecticut Retirement Security Program. The intent of the request is to identify firms with the necessary expertise to provide plan administration and management services within a stated time frame. Submit questions and proposals to Mary Fay at The deadline to apply is June 12, 2019 at 4 p.m.

The Connecticut Retirement Security Program requires all Connecticut businesses of five or more employees with no pension or 401 K plan to allow employees to save for retirement through payroll deductions into private IRA accounts at no cost to the employers. It will be voluntary for employees, who will be automatically enrolled but have the ability to opt out. This retirement savings option will help approximately 600,000 workers in Connecticut grow retirement savings so they can take control of their future.

This story is provided by AARP Connecticut. Visit the AARP Connecticut page for more news, events, and programs affecting retirement, health care, and more.

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