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Lunch and Learn | Illinois Secure Choice and the Impact to Small Business Owners

October 27, 2022 11:30 AM - 1:00 PM (CDT)

Description

Enacted in 2015 and implemented in 2018, The Illinois Secure Choice law currently requires employers with 25 or more (Full time & Part-time) W-2 employees without a retirement program (401(k) or Simple IRA) to enroll their employees into the state mandated program which is a ROTH IRA program. 

The state mandate is now being lowered to 16 employees in 2022 and will be lowered to 5 employees in 2023. This lunch presentation is designed to educate all employers with 5 or more W-2 employees as the legislation has financial penalties for non-compliance and has requirements for Illinois Business owners even if they are presently offering a retirement program. 

This legislation will eventually impact 99% of all business owners in the state and the failure to understand the requirements could result in negative impacts upon your business and employees.


PANELISTS

David Hiss

Regional Vice President, John Hancock Retirement Plan Services


Massi Fazel

Financial Advisor, Edward Jones

Contact Information

Naperville Area Chamber of Commerce
Name: Suzie Pschirrer
Phone: (630) 544-3378
Email: spschirrer@naperville.net
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