The Connecticut Retirement Security Authority shall provide for each participant's account to be invested in (1) an age-appropriate target date fund, or (2) other investment vehicles the authority may prescribe if affirmatively selected by the participant.
(P.A. 16-29, S. 8; May Sp. Sess. P.A. 16-3, S. 102, 207; P.A. 19-117, S. 101.)
History: P.A. 16-29 effective May 27, 2016; May Sp. Sess. P.A. 16-3 changed effective date of P.A. 16-29, S. 8, from May 27, 2016, to January 1, 2017, effective June 2, 2016, and designated existing provisions re investment of participant's account as Subsec. (a) and amended same to add provision re participant to select vendor and added Subsec. (b) re investment of contribution if participant does not select specific vendor or investment option, effective January 1, 2017; P.A. 19-117 deleted Subsec. (b) re participant not selecting specific vendor or investment option, deleted Subsec. (a) designator, added “if affirmatively selected by the participant” in Subdiv. (2) and made technical and conforming changes, effective July 1, 2019.