Illinois Secure Choice Retirement Savings Program

The Illinois Secure Choice Retirement Savings Program is officially launching this fall. Secure Choice is a retirement savings program for private sector workers who lack access to an employer-sponsored plan. Secure Choice enables employees to easily save for their own retirement through automatic payroll deductions that flow into individual retirement accounts managed by a professional private sector investment manager.

Secure Choice was enacted into law in 2015 and since then, the seven-person, bi-partisan Board overseeing the Program has been working diligently on implementation. The pilot program launched last spring and Secure Choice staff have been working with a small group of employers and employees over the last few months. So far, 250 workers have saved over $50,000 for their retirement.

While Secure Choice is completely voluntary for employees (who can opt-out at any time), any employer in Illinois with 25 or more employees, that has been operating in the State for two years or more, and that doesn’t offer a qualified retirement plan will be legally required to enroll in Secure Choice. The rollout is taking place in three waves, with the first wave starting this month. Employers with 500 or more workers (as reported to the Department of Employment Security) have already begun to receive notices to complete the registration and enrollment process before the end of November 2018.  Below is the wave schedule:

•         November 2018 – Wave 1:  Employers with 500+ employees
•         July 2019 – Wave 2:  Employers with 100-499 employees
•         November 2019 – Wave 3:  Employers with 25-99 employees

Additional resources are available on the Program website at