Illinois Secure Choice: What Small Business Owners Need to Know

In this session, the Illinois State Treasurer’s Office will discuss the Illinois Secure Choice Savings Program Act, which applies to employers in Illinois that have been in business for at least two years and that have 5 or more Illinois employees and requires that eligible employers either sponsor their own qualified retirement plan or facilitate Illinois Secure Choice, a state-sponsored program for private-sector workers. Through Illinois Secure Choice, workers can save for retirement via Individual Retirement Accounts (IRAs) funded by payroll deductions. You’ll hear more about the looming retirement crisis that prompted the creation of the state law, how Illinois Secure Choice works, the administrative responsibilities employers have, employer registration deadlines, and the opportunities employees have. More information can be found at www.ilsecurechoice.com.