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Employers

Facilitating Secure Choice Resources Employer Support Payroll Providers

Savers

Submitting Contributions

This is the final - and most important - step in your employee’s ability to save for retirement. In this step, you will send your employees’ payroll deductions to Illinois Secure Choice so that the amount can be applied to their retirement savings account and invested according to their instructions.

When should this step be completed?

Important: Employee contributions must be remitted on or before the last day of the month following the month in which the compensation otherwise would have been payable to the employee in cash. It is preferred that contributions be remitted within seven days of taking the payroll deduction.

 

Information you will need to complete this step:

Before you can submit contributions, you’ll need to establish the payroll deduction within your bookkeeping or payroll software/file.

You will also need:

  • The contribution amounts each employee selected. Found on the Employee Dashboard page.
  • Bank information to execute an electronic bank transfer of funds. (Note: you can also send paper checks.)
CONTRIBUTIONS TEMPLATE

Many employers find it easier to use the file upload process than manual entry. Use this template to upload your employee contribution amounts.

Download Template Employee Contribution Template Tips

What comes next?

You will continue to send employee contributions each pay period until the employee leaves your company or opts out of participation.

Frequently asked questions

Can employers match employee contributions?

No, Illinois Secure Choice does not allow employer contributions. The employer's role is limited to simply facilitating the program for employees.

Is there a mandatory employer contribution?

No, Illinois Secure Choice does not allow employer contributions.

Is there a waiting period?

No. Eligible employees who do not choose to opt out of the program are automatically enrolled 30 days after their date of hire or date of eligibility. Contributions may be made on behalf of an employee at any point after they are enrolled.

Is there a vesting period?

No, contributions belong 100% to the contributing program participant from day one.

How often do I need to send the contributions in?

Contributions must be submitted to the program for each paycheck and must be remitted on or before the last day of the month following the month in which the compensation otherwise would have been payable to the employee in cash.

How will I know when to submit the first payroll contributions?

Your first contributions will be submitted on the first pay date that occurs 30 days after you upload your employee roster. You will receive a notification in your message center a few days prior to each pay date and an e-mail will be sent to the primary company contact letting them know they should check their message center in the employer portal

Can an employee’s payroll deduction be set for less than 5% or in other increments of a percent?

An employee’s contribution rate can be set for less than 5%, but it does need to be a whole percentage. When employees make contribution rate changes, you will be notified prior to your next pay date and must make the necessary adjustment on their payroll deduction.
The portal does not allow employers to change employee contribution rates on their behalf.

Is there a penalty for remitting payroll deductions late or not at all?

Yes, failure to timely remit deductions violates Illinois law, including wage and hour requirements. The State may impose penalties for deduction violations.