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IL SB3811
Bill
Status
1/13/2021
Primary Sponsor
Robert Martwick
Click for details
AI Summary
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Expands program applicability from employers with fewer than 25 employees to all employers with at least one employee in Illinois.
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Establishes automatic annual increases to employee contribution rates up to a maximum of 10% of wages, based on a schedule set by the Board.
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Changes penalty structure: $250 per employee for first year of noncompliance and $500 per employee for subsequent years; Department determines employee count using annual average from quarterly employer-reported data.
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Allows Department to provide penalty notices in electronic format as determined by the Department.
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Makes penalty provisions operative by January 1, 2021, rather than 9 months after the Board notifies the Director of program implementation.
Legislative Description
SECURE CHOICE SAVINGS PROGRAM
Last Action
Session Sine Die
1/13/2021