First-In-The-Nation
The State of Connecticut is investing in the future of our children. CT Baby Bonds is a new initiative that invests money for every baby born in Connecticut whose birth is covered by HUSKY.
An estimated 15,600 children are born into poverty each year in CT – nearly half of all births. CT Baby Bonds will give young people a reason to stay in the state, promote homeownership and new business creation, and provide wealth- building resources to residents from every city and town.
Babies born on or after July 1, 2023, whose birth was covered by HUSKY will be automatically allocated a share of the CT Baby Bonds Trust. Imementation and formation of the trust is underway. The program calls for $600 million in funding over the next 12 years.
The funds are invested in a trust managed by the Office of the Treasurer. Between the ages of 18 and 30, the young person can make a claim for the funds to be used for:
- Buying a home in Connecticut Saving for retirement
- Paying for post-secondary education or training
- Starting or investing in a Connecticut business
Between the ages of 18 and 30, beneficiaries may submit a claim for an allowable expense if they are a Connecticut resident and have completed an approved financial literacy course.
For further information contact: the Connecticut State Treasurers Office, Kevin.Alvarez@Ct.Gov
