Illinois Secure Choice Savings Program Act

This act creates a state-administered retirement savings program for private-sector workers whose employers do not offer a plan, funding it through payroll deductions into individual accounts held in a dedicated program fund, with a separate fund covering administrative costs. A governing board oversees the program under an express fiduciary duty, selecting investment firms, setting investment options, and managing risk, while employers are required to enroll eligible workers and forward contributions, subject to penalties for noncompliance. The act also limits the liability of the state and of participating employers, mandates disclosure packets to employers and employees, and requires ongoing audits and reports.

Editorial summary generated from the text of this act. It is not part of the statute — read the sections below for the operative language.