Bill Title: Creates the Illinois Automatic IRA Program Act. Provides that the Illinois Automatic IRA Program shall be administered by the State Treasurer and that the Treasurer shall adopt regulations to implement the Program. Allows employees of certain employers that have not offered a qualified retirement plan for 2 years to set aside a percentage of their wages to be deposited into an IRA trust fund administered by the State Treasurer's office. Sets minimum requirements for the operation of the Program. Sets forth duties and authority of the State Treasurer in relation to the Program. Limits State and employer liability. Contains provisions regarding audits and reports. Effective immediately.

Spectrum: Partisan Bill (Democrat 4-0)

Status: (Failed) 2013-01-08 - Session Sine Die [SB1844 Detail]

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Bill Drafts

Revision	Date	Format	Source	View
Amended	2012-03-02	HTML/Text	Link	View
Introduced	Not Avail	HTML/Text	Link	View

Amendments

Amendment	Date	Disposition	Format	Source	View
No bill amendments currently on file for Illinois SB1844

Supplemental Documents

Title	Description	Date	Format	Source	View
No supplemental documents for Illinois SB1844 currently on file.

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