Conn. Gen. Stat. § 31-416: Definitions.

As used in this section, section 31-71e and sections 31-417 to 31-427, inclusive:

(1) “Board” means the Connecticut Retirement Security Advisory Board established pursuant to section 31-417;

(2) “Consumer” has the same meaning as provided in section 17b-706;

(3) “Contribution level” means (A) the contribution rate selected by the participant that may be expressed as (i) a percentage of the participant's taxable wages as is required to be reported under Sections 6041 and 6051 of the Internal Revenue Code of 1986, or any subsequent corresponding internal revenue code of the United States, as amended from time to time, or (ii) a dollar amount up to the maximum deductible amount for the participant's taxable year under Section 219(b)(1) of the Internal Revenue Code of 1986, or any subsequent corresponding internal revenue code of the United States, as amended from time to time; or (B) in the absence of an affirmative election by the participant, three per cent of the participant's taxable wages as is required to be reported under Sections 6041 and 6051 of the Internal Revenue Code of 1986, or any subsequent corresponding internal revenue code of the United States, as amended from time to time. For participants enrolled on and after July 1, 2025, the contribution level in the absence of an affirmative election by the participant shall follow the provisions of Section 414A(b)(3)(A) of the Internal Revenue Code of 1986, or any subsequent corresponding internal revenue code of the United States, as amended from time to time. The contribution level of a participant who customarily and regularly receives gratuities in conjunction with his or her employment shall be a percentage of such participant's wages as is required to be reported under Sections 6041 and 6051 of the Internal Revenue Code of 1986, or any subsequent corresponding internal revenue code of the United States, as amended from time to time;

(4) “Covered employee” means (A) an individual (i) who has been employed by a qualified employer for a period of not less than one hundred twenty days, (ii) who is nineteen years of age or older, (iii) who performs services within the state for purposes of section 31-222, and (iv) whose service or employment is not excluded under the provisions of subdivision (5) of subsection (a) of section 31-222, and (B) on and after July 1, 2026, a personal care attendant (i) who has been employed by a qualified employer for a period of not less than thirty days, (ii) who is nineteen years of age or older, and (iii) who performs services within the state for purposes of section 31-222;

(5) “Participant” means any individual participating in the program;

(6) “Personal care attendant” has the same meaning as provided in section 17b-706;

(7) “Program” means the Connecticut Retirement Security Program established pursuant to section 31-418;

(8) (A) “Qualified employer” means (i) any person, corporation, limited liability company, firm, partnership, voluntary association, joint stock association or other entity doing business in the state during the calendar year, whether for profit or not for profit, that employed on October first of the preceding calendar year five or more individuals in the state and has paid not less than five of such individuals taxable wages of not less than five thousand dollars in the preceding calendar year, or (ii) on and after July 1, 2026, a consumer that receives services from a personal care attendant under a state-funded program. (B) “Qualified employer” does not include: (i) The federal government, (ii) the state or any political subdivision thereof, (iii) any municipality, unit of a municipality or municipal housing authority, (iv) an employer employing only individuals whose services are excluded under subdivision (5) of subsection (a) of section 31-222, other than a consumer that receives services from a personal care attendant under a state-funded program, or (v) an employer that was not in existence at all times during the current calendar year and the preceding calendar year, other than a consumer that receives services from a personal care attendant under a state-funded program;

(9) “Individual retirement account” means a Roth IRA;

(10) “Roth IRA” means an account described in Section 408A of the Internal Revenue Code of 1986, or any subsequent corresponding internal revenue code of the United States, as amended from time to time;

(11) “Normal retirement age” means the age specified in Section 408A of the Internal Revenue Code of 1986, or any subsequent corresponding internal revenue code of the United States, as amended from time to time, when an individual may withdraw all funds without penalty;

(12) “Vendor” means (A) a federally regulated retirement plan sponsor conducting business in the state, including, but not limited to, a federally regulated investment company or an insurance company, or (B) a company conducting business in the state to (i) provide ancillary services, including, but not limited to, technological, payroll or recordkeeping services, and (ii) offer retirement plans or payroll deposit individual retirement account arrangements using products of regulated retirement plan sponsors. “Vendor” does not include individual registered representatives, brokers, financial planners or agents; and

(13) “Fee” means investment management charges, administrative charges, investment advice charges, trading fees, marketing and sales fees, revenue sharing, broker fees and other costs necessary to administer the program.