LCO No. 2355 1 of 1
General Assembly Proposed Bill No. 5741
January Session, 2021
LCO No. 2355
Referred to Committee on AGING
Introduced by:
REP. PHIPPS, 100th Dist.
AN ACT ESTABLISHING A PROGRAM TO PROVIDE FINANCIAL
SUPPORT TO RETIREMENT-AGE RESIDENTS.
Be it enacted by the Senate and House of Representatives in General
Assembly convened:
That the general statutes be amended to establish a program 1
pursuant to which three thousand six hundred dollars is invested on 2
behalf of each child born in the state on and after January 1, 2031, and 3
held in trust until the beneficiary's sixty-fourth birthday, at which point 4
such funds may be used by the beneficiary as retirement income or to 5
purchase a primary residence in the state, pay off educational debts or 6
pay the beneficiary's in-state tuition, provided the beneficiary maintains 7
a primary residence in the state. 8
Statement of Purpose:
To establish a program to provide financial support to retirement-age
residents.