HB3220 Summary

• Amends the Illinois Secure Choice Savings Program Act to designate the State Treasurer as the administering agency for the Illinois Secure Choice Administrative Fund on behalf of the Board.

• Removes requirement for the Board to prepare an annual report on Program benefits and instead assigns this reporting duty to the State Treasurer in consultation with the Board.

• Modifies small employer definition to require notification to the Board (rather than the Department) of interest in becoming a participating employer.

• Authorizes the Department of Revenue to adopt rules necessary to carry out its penalty assessment duties under the Act.

• Takes effect June 1, 2015.