IllinoisSB1441104th General Assembly (2025–2026)SenateWALLET

SECURE CHOICE PROGRAM-IRAS

Sponsored By: Robert Peters (Democratic)

Signed by Governor

Summary

Amends the Illinois Secure Choice Savings Program Act. Provides that the accounts established under the Secure Choice Savings Program shall be IRAs, into which enrollees contribute funds that are invested in investment options established by the Illinois Secure Choice Savings Board. Provides that a separate account shall be established for each enrollee and the accounts shall be owned by the enrollee. Provides that 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. Provides that an enrollee in the Program may have both a Roth IRA and a Traditional IRA through the Program. Provides that the Board shall have the duty to assess the feasibility of agreements with other governmental entities, including other states and their agencies and instrumentalities, to achieve greater economies of scale through shared resources and to enter into those agreements if determined to be beneficial. Provides that an employer who fails without reasonable cause to enroll an employee in the Program within the time provided and fails to remit their contributions (rather than fails without reasonable cause to enroll an employee in the Program within the time provided) shall be subject to a penalty. Makes changes in provisions concerning employer and employee information packets. Effective immediately.

assignmentsstate governmentpersonnel & pensions

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Bill Overview

Analyzed Economic Effects

4 provisions identified: 2 benefits, 1 costs, 1 mixed.

Employers face penalties for missed savings duties

Employers face penalties when, without reasonable cause, they miss an employee’s enrollment deadline and also fail to send that employee’s contributions. The penalty is $250 per employee for the first noncompliant calendar year. It rises to $500 per employee for each later noncompliant calendar year. Employees do not pay these penalties.

Workers get clear retirement enrollment deadlines

At an employer’s first Secure Choice enrollment, eligible workers employed at least 120 days are automatically enrolled unless they opt out. After that, employers must enroll eligible new hires as soon as possible, within 120 days of starting work. Employee information packets must include an opt-out form and explain how to choose a custom contribution rate. Packets no longer need a separate form for choosing a rate different from the default.

Workers own portable retirement savings accounts

Each Illinois Secure Choice participant owns a separate retirement savings account, with investment options set by the Board. Workers can contribute through multiple employers into one account, at the same time or across their lifetime. Participants can hold both Roth and traditional IRAs through the program.

Secure Choice cooperation gets new limits

The Secure Choice Board must assess whether agreements with other governments, including states, can save resources through shared operations. It must enter agreements it finds beneficial. The law removes the Board’s express authority to use agreements to let residents of other states join the program.

Sponsors & Cosponsors

Sponsor

  • Robert Peters

    Democratic • Senate

Cosponsors

  • Gregg Johnson

    Democratic • House

  • Michael W. Halpin

    Democratic • Senate

  • Robert F. Martwick

    Democratic • Senate

  • Sara Feigenholtz

    Democratic • Senate

Roll Call Votes

All Roll Calls

Yes: 149 • No: 47

House vote • 5/21/2025

Third Reading - Short Debate - Passed

Yes: 74 • No: 37

House vote • 4/24/2025

Do Pass / Short Debate Personnel & Pensions Committee;

Yes: 8 • No: 4

Senate vote • 4/3/2025

Third Reading - Passed;

Yes: 48 • No: 6

Senate vote • 3/19/2025

Senate Floor Amendment No. 1 Recommend Do Adopt State Government;

Yes: 9 • No: 0

Senate vote • 2/27/2025

Do Pass State Government;

Yes: 10 • No: 0

Actions Timeline

  1. Public Act . . . . . . . . . 104-0100

    8/1/2025Senate
  2. Effective Date August 1, 2025

    8/1/2025Senate
  3. Governor Approved

    8/1/2025Senate
  4. Sent to the Governor

    6/18/2025Senate
  5. Passed Both Houses

    5/21/2025Senate
  6. Third Reading - Short Debate - Passed 074-037-000

    5/21/2025House
  7. Placed on Calendar Order of 3rd Reading - Short Debate

    5/16/2025House
  8. Second Reading - Short Debate

    5/16/2025House
  9. Placed on Calendar 2nd Reading - Short Debate

    4/24/2025House
  10. Do Pass / Short Debate Personnel & Pensions Committee; 008-004-000

    4/24/2025House
  11. Assigned to Personnel & Pensions Committee

    4/17/2025House
  12. Referred to Rules Committee

    4/7/2025House
  13. First Reading

    4/7/2025House
  14. Chief House Sponsor Rep. Gregg Johnson

    4/4/2025House
  15. Arrived in House

    4/4/2025House
  16. Third Reading - Passed; 048-006-000

    4/3/2025Senate
  17. Placed on Calendar Order of 3rd Reading April 2, 2025

    4/1/2025Senate
  18. Senate Floor Amendment No. 1 Adopted; Peters

    4/1/2025Senate
  19. Second Reading

    4/1/2025Senate
  20. Senate Floor Amendment No. 1 Recommend Do Adopt State Government; 009-000-000

    3/19/2025Senate
  21. Added as Co-Sponsor Sen. Sara Feigenholtz

    3/19/2025Senate
  22. Senate Floor Amendment No. 1 Assignments Refers to State Government

    3/19/2025Senate
  23. Senate Floor Amendment No. 1 Referred to Assignments

    3/18/2025Senate
  24. Senate Floor Amendment No. 1 Filed with Secretary by Sen. Robert Peters

    3/18/2025Senate
  25. Added as Chief Co-Sponsor Sen. Robert F. Martwick

    2/27/2025Senate

Bill Text

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