Connecticut Seal

General Assembly



February Session, 2008

LCO No. 6385



Offered by:


REP. NOUJAIM, 74th Dist.


To: Subst. Senate Bill No. 652

File No. 603

Cal. No. 459

After the last section, add the following and renumber sections and internal references accordingly:

"Sec. 501. (NEW) (Effective from passage) As part of the tax-qualified defined contribution retirement program established pursuant to subsection (b) of section 1 of this act, the third-party administrator chosen pursuant to subsection (c) of said section 1 shall, at no cost to the employer or employees, contact in person or by telephone each employee on their own time once every three months to (1) review the performance of said employees' investments, (2) make necessary adjustments to said employees' portfolios as applicable, (3) ensure that employees are educated in understanding market fluctuations, and (4) protect the financial interests of said employees. "