Illinois Compiled Statutes 820 Employment: Article -

• Illinois Secure Choice Savings Program Act. - 820 ILCS 80, Section 1
  Short title. This Act may be cited as the Illinois Secure Choice Savings Program Act. (Source: P.A. 98-1150, eff. 6-1-15.)
• Illinois Secure Choice Savings Program Act. - 820 ILCS 80, Section 5
  Definitions. Unless the context requires a different meaning or as expressly provided in this Section, all terms shall have the same meaning as when used...
• Illinois Secure Choice Savings Program Act. - 820 ILCS 80, Section 10
  Establishment of Illinois Secure Choice Savings Program. A retirement savings program in the form of an automatic enrollment payroll deduction IRA, known as the Illinois...
• Illinois Secure Choice Savings Program Act. - 820 ILCS 80, Section 15
  Illinois Secure Choice Savings Program Fund. (a) The Illinois Secure Choice Savings Program Fund is hereby established as a trust outside of the State treasury,...
• Illinois Secure Choice Savings Program Act. - 820 ILCS 80, Section 16
  Illinois Secure Choice Administrative Fund. The Illinois Secure Choice Administrative Fund ("Administrative Fund") is created as a nonappropriated separate and apart trust fund in the...
• Illinois Secure Choice Savings Program Act. - 820 ILCS 80, Section 20
  Composition of the Board. There is created the Illinois Secure Choice Savings Board. (a) The Board shall consist of the following 7 members: (1) the...
• Illinois Secure Choice Savings Program Act. - 820 ILCS 80, Section 25
  Fiduciary duty. The Board, the individual members of the Board, the trustee appointed under subsection (b) of Section 30, any other agents appointed or engaged...
• Illinois Secure Choice Savings Program Act. - 820 ILCS 80, Section 30
  Duties of the Board. In addition to the other duties and responsibilities stated in this Act, the Board shall: (a) Cause the Program to be...
• Illinois Secure Choice Savings Program Act. - 820 ILCS 80, Section 35
  Risk management. The Board shall annually prepare and adopt a written statement of investment policy that includes a risk management and oversight program. This investment...
• Illinois Secure Choice Savings Program Act. - 820 ILCS 80, Section 40
  Investment firms. (a) The Board shall engage, after an open bid process, an investment manager or managers to invest the Fund and any other assets...
• Illinois Secure Choice Savings Program Act. - 820 ILCS 80, Section 45
  Investment options. (a) The Board shall establish as an investment option a life-cycle fund with a target date based upon the age of the enrollee....
• Illinois Secure Choice Savings Program Act. - 820 ILCS 80, Section 50
  Benefits. Interest, investment earnings, and investment losses shall be allocated to individual Program accounts as established by the Board under subsection (d) of Section 30...
• Illinois Secure Choice Savings Program Act. - 820 ILCS 80, Section 55
  Employer and employee information packets and disclosure forms. (a) Prior to the opening of the Program for enrollment, the Board shall design and disseminate to...
• Illinois Secure Choice Savings Program Act. - 820 ILCS 80, Section 60
  Program implementation and enrollment. Except as otherwise provided in Section 93 of this Act, the Program shall be implemented, and enrollment of employees shall begin,...
• Illinois Secure Choice Savings Program Act. - 820 ILCS 80, Section 65
  Payments. Employee contributions deducted by the participating employer through payroll deduction shall be paid by the participating employer to the Fund using one or more...
• Illinois Secure Choice Savings Program Act. - 820 ILCS 80, Section 70
  Duty and liability of the State. (a) The State shall have no duty or liability to any party for the payment of any retirement savings...
• Illinois Secure Choice Savings Program Act. - 820 ILCS 80, Section 75
  Duty and liability of participating employers. (a) Participating employers shall not have any liability for an employee's decision to participate in, or opt out of,...
• Illinois Secure Choice Savings Program Act. - 820 ILCS 80, Section 80
  Audit and reports. (a) The Board shall annually submit: (1) an audited financial report, prepared in accordance with generally accepted accounting principles, on the operations...
• Illinois Secure Choice Savings Program Act. - 820 ILCS 80, Section 85
  Penalties. (a) An employer who fails without reasonable cause to enroll an employee in the Program within the time prescribed under Section 60 of this...
• Illinois Secure Choice Savings Program Act. - 820 ILCS 80, Section 90
  Rules. The Board and the Department shall adopt, in accordance with the Illinois Administrative Procedure Act, any rules that may be necessary to implement this...
• Illinois Secure Choice Savings Program Act. - 820 ILCS 80, Section 93
  Delayed implementation. If the Board does not obtain adequate funds to implement the Program within the time frame set forth under Section 60 of this...
• Illinois Secure Choice Savings Program Act. - 820 ILCS 80, Section 95
  Federal considerations. The Board shall request in writing an opinion or ruling from the appropriate entity with jurisdiction over the federal Employee Retirement Income Security...
• Employment: Article -
  Amendatory provisions; text omitted
• Illinois Secure Choice Savings Program Act. - 820 ILCS 80, Section 500
  (Amendatory provisions; text omitted). (Source: P.A. 98-1150, eff. 6-1-15; text omitted.)

Last modified: February 18, 2015