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What is the Illinois Secure Choice Savings Program?

Answer #924 -- ( Published 08/05/2005 11:09 AM | Updated 07/12/2017 10:39 AM )

What is the Illinois Secure Choice Savings Program and why do I have to answer a question about it on my Form IL-941, Illinois Withholding Income Tax return?

The Illinois Secure Choice Savings Program is a program offered by the Illinois State Treasurer’s Office to meet the requirements of the Illinois Secure Choice Savings Program Act (820 ILCS 80/). To be subject to the Act, an employer must have at least 25 or more employees, have been in business over two years, and not offer a qualified savings plan. The Illinois Secure Choice Savings Program offers Illinois businesses the option to either offer a private market savings vehicle, or automatically enroll their employees into the Secure Choice Plan. For additional information, please visit the Illinois Secure Choice Savings Program website.

The Department of Revenue is assisting in the compliance of the Act by requesting information on Form IL-941.

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