Bill Title: Creates the Illinois Secure Choice Savings Program Act. Establishes a retirement savings program in the form of an automatic enrollment payroll deduction IRA with the intent of promoting greater retirement savings for private-sector employees in a convenient, low-cost, and portable manner. Creates the Illinois Secure Choice Savings Program Fund consisting of moneys received from enrollees and participating employers. Sets forth the composition of the Board, the Board's duties, and provisions governing risk management, investment firms, and investment options. Provides for employee and employer information packets, as well as program implementation and enrollment. Provides that the State shall have no duty or liability to any party for the payment of any retirement savings benefits accrued by any individual under the Program. Requires annual reports and audits of the Program. Sets forth penalties. Amends the State Finance Act to create the Illinois Secure Choice Savings Program Fund. Effective immediately.

Spectrum: Partisan Bill (Democrat 18-0)

Status: (Failed) 2014-12-03 - Session Sine Die [HB4595 Detail]

Text: Latest bill text (Introduced) [HTML]

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Sponsors

Name	Type	Sponsorship	District	Financial	Encyclopedia	Biography
Representative Barbara Currie [D]	Primary	Sponsored Bills	HD-025	FollowTheMoney	Ballotpedia	VoteSmart
Representative Scott Drury [D]	Cosponsor	Sponsored Bills	HD-058	FollowTheMoney	Ballotpedia	VoteSmart
Representative Emanuel Welch [D]	Cosponsor	Sponsored Bills	HD-007	FollowTheMoney	Ballotpedia	VoteSmart
Representative Robyn Gabel [D]	Cosponsor	Sponsored Bills	HD-018	FollowTheMoney	Ballotpedia	VoteSmart
Representative Maria Berrios [D]	Cosponsor	Sponsored Bills	HD-039	FollowTheMoney	Ballotpedia	VoteSmart
Representative Michael Zalewski [D]	Cosponsor	Sponsored Bills	HD-023	FollowTheMoney	Ballotpedia	VoteSmart
Representative Christian Mitchell [D]	Cosponsor	Sponsored Bills	HD-026	FollowTheMoney	Ballotpedia	VoteSmart
Representative Monique Davis [D]	Cosponsor	Sponsored Bills	HD-027	FollowTheMoney	Ballotpedia	VoteSmart
Representative Naomi Jakobsson [D]	Cosponsor	Sponsored Bills	HD-103	FollowTheMoney	Ballotpedia	VoteSmart
Representative LaShawn Ford [D]	Cosponsor	Sponsored Bills	HD-008	FollowTheMoney	Ballotpedia	VoteSmart
Representative Thaddeus Jones [D]	Cosponsor	Sponsored Bills	HD-029	FollowTheMoney	Ballotpedia	VoteSmart
Representative Charles Jefferson [D]	Cosponsor	Sponsored Bills	HD-067	FollowTheMoney	Ballotpedia	VoteSmart
Representative Kelly Cassidy [D]	Cosponsor	Sponsored Bills	HD-014	FollowTheMoney	Ballotpedia	VoteSmart
Representative Marcus Evans [D]	Cosponsor	Sponsored Bills	HD-033	FollowTheMoney	Ballotpedia	VoteSmart
Representative Camille Lilly [D]	Cosponsor	Sponsored Bills	HD-078	FollowTheMoney	Ballotpedia	VoteSmart
Representative William Davis [D]	Cosponsor	Sponsored Bills	HD-030	FollowTheMoney	Ballotpedia	VoteSmart
Representative Daniel Burke [D]	Cosponsor	Sponsored Bills	HD-001	FollowTheMoney	Ballotpedia	VoteSmart
Representative Elizabeth Hernandez [D]	Cosponsor	Sponsored Bills	HD-002	FollowTheMoney	Ballotpedia	VoteSmart

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