Illinois SB1441 amends the Illinois Secure Choice Savings Program Act to establish a retirement savings program for private-sector employees.
Illinois SB1441 amends the Illinois Secure Choice Savings Program Act to establish the Illinois Secure Choice Savings Program, a retirement savings program in the form of an automatic enrollment payroll deduction IRA. The program is administered by the Illinois Secure Choice Savings Board and aims to promote greater retirement savings for private-sector employees in a convenient, low-cost, and portable manner. The accounts established under the Program are IRAs, and enrollees contribute funds that are invested in investment options established by the Board.
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