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Illinois Compiled Statutes - Full Text
Information maintained by the Legislative Reference Bureau
Updating the database of the Illinois Compiled Statutes (ILCS) is an ongoing process. Recent laws may not yet be included in the ILCS database, but they are found on this site as Public Acts soon after they become law. For information concerning the relationship between statutes and Public Acts, refer to the Guide.
Because the statute database is maintained primarily for legislative drafting purposes, statutory changes are sometimes included in the statute database before they take effect. If the source note at the end of a Section of the statutes includes a Public Act that has not yet taken effect, the version of the law that is currently in effect may have already been removed from the database and you should refer to that Public Act to see the changes made to the current law.
(820 ILCS 80/10) Sec. 10. Establishment of Illinois Secure Choice Savings Program. (a) A retirement savings program in the form of an automatic enrollment payroll deduction IRA, known as the Illinois Secure Choice Savings Program, is hereby established and shall be administered by the Board for the purpose of promoting greater retirement savings for private-sector employees in a convenient, low-cost, and portable manner. (b) The accounts established under this Program shall be IRAs, into which enrollees contribute funds that are invested in investment options established by the Board. A separate account shall be established for each enrollee and the accounts shall be owned by the enrollee. (c) The savings accounts established under the Program shall be portable and allow for an enrollee to make contributions from multiple employers into a single account, either simultaneously or separately throughout the enrollee's lifetime. (d) An enrollee in the Program may have both a Roth IRA and a Traditional IRA through the Program.(Source: P.A. 104-100, eff. 8-1-25.) |