We keep you updated with the latest news from Martin Hood and helpful information whenever there is a change to employment or tax laws.
November 11, 2016
To improve the retirement savings of Illinois workers, the Illinois State Treasurer’s Office has created the Illinois Secure Choice Savings Program Act (Secure Choice) set to be implemented by July 1, 2017. The act requires Illinois businesses with at least 25 employees, who have been in business for two or more years, and do not offer a qualifying savings program the choice to either:
* – Qualified savings plans include:
Highlights of the Illinois Secure Choice Savings Program include:
Please feel free to contact us with any questions regarding this program.