QUESTION: Can you tell us how to comply with the new law about retirement in Illinois ?
ANWSER: November 1, 2023, is the final deadline for the new Illinois Secure Choice State law that now requires every Illinois employer with five or more employees to offer their own retirement program or facilitate Secure Choice. Employers who do not meet their required deadlines may be subject to enforcement, including financial penalties.
Our attorney is not certain of other helpful sites or sources. As all the deadlines will be passed as of November 1, 2023, it is a good idea to visit this website and get started. I suspect that just jumping through these online hoops is going to be the easiest option, unless you wish to set up a 401K or something similar. There are no costs to employers, except the cost of administration.