Sunday, June 16, 2024

CT Baby Bonds

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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

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