Bill Title: Amends the Illinois Secure Choice Savings Program Act. Provides that participating employers may (rather than shall) designate an open enrollment period during which employees who previously opted out of the Secure Choice Savings Program may enroll in the Program. Provides that an employer shall retain the option at all times to set up a qualified retirement plan (rather than any type of employer-sponsored retirement plan). Removes offering an automatic enrollment payroll deduction IRA from a list of qualified retirement plans. Makes conforming changes.

Spectrum: Partisan Bill (Democrat 4-0)

Status: (Passed) 2024-07-19 - Public Act . . . . . . . . . 103-0681 [HB4719 Detail]

Text: Latest bill text (Chaptered) [HTML]

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