Tag: Illinois Secure Choice
The Pew Charitable Trusts recently reported that retirement assets in active auto-IRA programs have reached $1 billion. Auto-IRAs, which began in 2017 when Oregon launched its OregonSaves program, now are up and running in six other states: Illinois Secure Choice (2018), CalSavers (2019), MyCT Savings (2022), Maryland Saves (2022), Colorado SecureSavings (2023) and RetirePath Virginia…
The state introduces automatic retirement savings plan for the uncovered. The Illinois Secure Choice Savings Plan, once up and running, will require employers (with 25 or more employees) that do not maintain a retirement plan to enroll their employees in Roth IRAs. Employees can opt out. Lack of coverage is a major problem nationwide sinc…
