Illinois’ Secure Choice Deadline for Newly Covered Employers is Nov. 1

September 6, 2024

Under Illinois’ Secure Choice Act, newly covered employers must register their businesses with the Secure Choice program by November 1.

Illinois' Secure Choice Deadline for Newly Covered Employers is Nov. 1

Notification of Newly Covered Employers Newly covered employers should have received a notification informing them of the requirement to register with the program and either enroll their employees in the state’s Secure Choice program or demonstrate that they offer their employees an alternative approved retirement plan. Ascensus, the state’s contracted investment-management provider for the program, is responsible for sending the notifications to the newly covered businesses on behalf of the Secure Choice program. Covered Employers Under the Secure Choice Act, employers that 1) have been in business for two or more years and that 2) had at least five employees each quarter of the previous year must participate in the Secure Choice program or demonstrate that they independently offer an approved retirement plan to their employees. For a list of approved retirement plans, click here. Additional Information Employers wanting additional information about the Secure Choice program and their requirements under it can utilize the following resources:

Access the Secure Choice program’s website.
Attend a webinar hosted by the state’s investment-management provider, Ascensus.
Listen to a pre-recorded presentation about the Secure Choice program by the state’s investment-management provider, Ascensus.

Topics:

Uncategorized

State:

Illinois

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