Connecticut Retirement Security Program - HB 6552

• Reduces the employment period requirement for covered employees from 120 days to 60 days to qualify for the retirement program.

• Changes board quorum requirement from eight members to a majority of members, and allows board decisions by majority vote instead of requiring eight votes.

• Removes the October 1, 2023 deadline for reimbursing the General Fund for program administration costs, allowing ongoing reimbursement instead.

• Clarifies that qualified employers are not fiduciaries and cannot be held liable for employee participation decisions, investment performance, or program design.

• Allows the Comptroller to enter into agreements with other states, U.S. territories, and the District of Columbia for collaborative retirement program administration and asset pooling.