IL HB5229

Expands employer coverage in the Illinois Secure Choice Savings Program from those with fewer than 25 employees to all employers with at least one employee.

Requires the Board to establish annual automatic increases in employee contribution rates up to a maximum of 10% of wages, within a schedule to be determined by rules.

Adds employee age verification requirement to reject any enrollee under 18 years of age during auto-enrollment.

Changes penalty provisions to become operative by January 1, 2021 (rather than 9 months after program implementation), with $250 per employee for first year noncompliance and $500 per employee for subsequent noncompliant years, with employee count determined using annual average from quarterly employer reports.

Allows the Department of Revenue to provide penalty notices to employers in electronic format as determined by the Department.