Illinois Secure Choice Retirement Savings Program

Illinois Secure Choice Retirement Savings Program

If  you  are  a  business  operating  in  Illinois,  you  may  now  be  required  to  facilitate  the  “Illinois  Secure  Choice  Retirement Savings Program.” This program started in 2018, but it was only applicable for a small pilot group of employers. Through the years since 2018, the program has expanded to more and more employers, based on size. The final deadline is now approaching. The timeline for program implementation has been/is as follows:

  • An employer employing 500 or more employees: 11/1/2018
  • An employer employing 100 to 499 employees: 7/1/2019
  • An employer employing 25 to 99 employees: 11/1/2019
  • An employer employing 16 to 24 employees: 11/1/2022
  • An employer employing 5 to 15 employees: 11/1/2023

What is it?
Illinois  Secure  Choice  is  the  retirement  savings  program  sponsored  by  the  State  of  Illinois  for  private-sector  workers who do not have access to a workplace retirement savings program.

Who is required to facilitate the program
Any business with employees in Illinois that does not offer an employer-sponsored retirement plan, employs 5 or more employees, and has been in business for more than 2 years will be required to facilitate the Illinois Secure Choice program for its employees.

Who is exempt
Employers who have fewer than 5 employees, have been in business for less than two years, or who already offer an employer-sponsored retirement plan are exempt from facilitating the program.

What to do now
If you are required to facilitate the program and have 5-15 employees, your registration deadline is November 1, 2023. If you are required to facilitate the program and have more than 15 employees, your registration deadline has passed and you should work to become in compliance as soon as possible. Employers who do not comply with the Illinois Secure Choice Savings Program Act may be subject to fines and penalties.

During the enrollment process, you will need to provide the program with certain information about your business and employees. You will be asked for the basic information necessary to set you up as an employer and to set up your employees' accounts. The program will then provide you with information to pass along to your employees. Your employees will have 30 days to opt out or make adjustments to their savings rates or investment choices. At the end of the 30-day period, you will record their choices in your employer account through the employer portal. You will then begin payroll deductions for participating employees.

Visit to begin enrollment or to indicate your exemption. For more information, you can review a full set of FAQs at

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