Illinois Secure Choice Helps Address Retirement Savings Crisis as Key Deadline for Small Businesses Approaches
SPRINGFIELD — Nearly 129,000 Illinois workers already are saving for retirement courtesy of the Illinois Secure Choice program, and now a key deadline is approaching for small employers to help even more employees do the same. Under state law, businesses that had between 5 and 15 employees last year have until Nov. 1, 2023 to help their workers access a retirement savings option by either signing up for Illinois Secure Choice or offering a private retirement plan. “There is a growing recognition that many workers understand that Social Security alone…