RETIREMENT & BENEFIT SERVICES DIVISION MEMORANDUM
October 8, 1999
TO THE HEADS OF ALL STATE AGENCIES
ATTENTION: Personnel and Payroll Officers
SUBJECT: State of Connecticut Deferred Compensation (§457) Plan - Investor Education Seminar
The purpose of this memorandum is to announce that the Office of the State Comptroller is again offering Deferred Compensation (§457) Plan (the "Plan") Investor Education Seminars presented by Buck Consultants. In an effort to increase enrollment, the seminars are intended for eligible non-participating employees and will emphasize the importance of retirement planning, explain how to use the Plan as a method of reaching retirement goals and provide a basic understanding of investing.
II. PAYCHECK NOTICES
The Comptroller's Retirement & Benefit Services Division will be issuing a notice to employees, through the Plan's periodic newsletter entitled, "Getting There", inviting them to attend a seminar and advising them that further details regarding the seminars will be made available through their agency's personnel/payroll office. The newsletter is scheduled for distribution with the November 5, 1999 paychecks. Plan newsletters are also available online (www.state.ct.us/otc/benindex.htm).
III. SEMINAR SCHEDULING
The Comptroller's Retirement & Benefit Services Division will be contacting agency payroll/personnel offices by telephone during the coming weeks regarding the scheduling of seminars for their employees. Seminars will be scheduled through the end of the year.
Each agency must designate an agency contact person to handle the reservations for the employees of its agency. The agency contact will be responsible for determining the number of employees who wish to attend a seminar and the most convenient location(s) to the agency. Upon confirmation of the seminar from this office, the agency contact will be responsible to notify the employees of the session(s) which have been reserved for them.
Although some agencies will schedule exclusive seminars for their employees, it is not feasible to schedule every state agency individually. Arrangements will therefore be made to hold general session seminars at various locations throughout the state to accommodate employees from smaller agencies within corresponding vicinities.
If agencies desire, alternative arrangements may be made to accommodate the agency's needs. To make alternative arrangements, please contact Araceli Alvarez of the Retirement & Benefit Services Division at the telephone number provided below.
General questions may be directed to the Comptroller's Retirement & Benefit Services Division, Employee Benefits Unit at (860) 702-3543; questions related to seminar scheduling and the reservation process may be directed to Araceli Alvarez at (860) 702-3553.
It is the Division's objective to educate as many non-participating employees as possible and to encourage participation in the Plan; therefore, your assistance in distributing the Plan's paycheck notices and making the Plan's seminar accessible to your agency's employees is essential to the success of this important benefit for our employees.
|Very truly yours,|
|NANCY WYMAN, STATE COMPTROLLER|
|Steven Weinberger, Director|
|Retirement & Benefit Services Division|
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