“Employers with 5 or more employees that do NOT offer an employer-sponsored retirement plan may be obligated to withhold 5% of an employee’s compensation and remit it to the Illinois Secure Choice program under the more recently amended Illinois Secure Choice Savings Program Act. Failure to do so risks statutory penalties. Of note, there are specific associated paperwork obligations. Please contact a member of the Labor and Employment Group at AGHL with any questions: Jim Pirages, Eileen Caver, Evan Bonnett or Maryjo Pirages Reynolds.”
