Employers in Illinois who meet all of the following criteria will be required to facilitate Illinois Secure Choice:
You’ll be notified by the Program when it's time for your business to register. You’ll need the following information before you begin:
We’re glad you’re already taking steps to help your employees save for retirement. Illinois Secure Choice does not apply to employers who already offer an employer-sponsored retirement plan, so you have no action to take at this time.
An employer-sponsored retirement plan includes a plan qualified under Internal Revenue Code sections:
It does not include payroll deduction IRAs.
Once your Illinois Secure Choice employer account is set up and ready to go, you’ll be responsible for ongoing maintenance: submitting employees’ contributions and updating your employee list.