Employer Alert


Illinois will soon begin implementation of the Secure Choice Savings Program, a program created by Public Act 098-1150 which establishes a statewide payroll deduction Individual Retirement Account program open to private sector employees. Participation in the program is mandatory for businesses that have been operating for at least 2 years, have more than 25 employees and do not offer their own qualified retirement plans. Employees of these businesses will be automatically enrolled in the program unless they opt out. Other employers may voluntarily offer the program to their employees, either by itself or in addition to an existing retirement plan. Persons working for employers that do not offer the state program may enroll in the program individually, but may be required to contribute through methods other than payroll deduction. 

Implementation will be divided into three waves and employers will be assigned to a wave based on their size:

  • November 2018, Wave 1: Employers with 500+ employees
  • July 2019, Wave 2: Employers with 100-499 employees
  • November 2019, Wave 3: Employers with 25-99 employees


The Illinois State Treasurer’s office will administer the program and they have created a website which answers many questions employers may have, such as eligibility and registration, FAQ’s, news, etc. The website is www.ilsecurechoice.com, and is the best place to obtain information about the new program. 

The rules for this program are currently open for public comment. The rules establish the responsibilities of the Secure Choice Savings Board, the Treasurer and the account administrator with regard to administration of the program; sets out investment policy and guidelines; establishes the registration and enrolment process, program fees and reporting requirements; and includes procedures through which employees may opt out of enrollment. Employers who begin offering their own qualified retirement plans (thereby becoming exempt from mandatory participation in the state program) may terminate their participation in the program.

The rules are in the June 15th Illinois Register and begin on page 10351 (page 737). This is an opportunity for employers to submit comments or suggestions on the rules prior to them being adopted. The comment period is open until July 30th. All comments must be received by the Treasurer’s Office prior to July 30th. For questions, request for copies, or to submit comments, you may contact: 

Chris Flynn
Office of the Treasurer, 
400 W. Monroe Street, Suite 401
Springfield, IL 62704
(217) 558-0115 (office)
(217) 785-2777 (fax)

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