SB1441 - 104th General Assembly (2025-2026)

SECURE CHOICE PROGRAM-IRAS
Last Action
08/01/2025 - Senate: Public Act . . . . . . . . . 104-0100
Statutes Amended In Order of Appearance
820 ILCS 80/10  
820 ILCS 80/30  
820 ILCS 80/55  
820 ILCS 80/85  
Synopsis As Introduced
Amends the Illinois Secure Choice Savings Program Act. Provides that the accounts established under the Secure Choice Savings Program shall be IRAs, into which enrollees contribute funds that are invested in investment options established by the Illinois Secure Choice Savings Board. Provides that a separate account shall be established for each enrollee and the accounts shall be owned by the enrollee. Provides that the savings accounts established under the Program shall be portable and allow for an enrollee to make contributions from multiple employers into a single account. Provides that an enrollee in the Program may have both a Roth IRA and a Traditional IRA through the Program. Provides that the Board shall have the duty to assess the feasibility of agreements with other governmental entities, including other states and their agencies and instrumentalities, to achieve greater economies of scale through shared resources and to enter into those agreements if determined to be beneficial. Provides that an employer who fails without reasonable cause to enroll an employee in the Program within the time provided and fails to remit their contributions (rather than fails without reasonable cause to enroll an employee in the Program within the time provided) shall be subject to a penalty. Makes changes in provisions concerning employer and employee information packets. Effective immediately.

Senate Floor Amendment No. 1
Adds reference to:
820 ILCS 80/60  
Further amends the Illinois Secure Choice Savings Program Act. Provides that, at the time of initial enrollment, employers shall automatically enroll in the Program each of their employees who have been employed for 120 days or more by the employer. Provides that, following initial enrollment, employers shall enroll new employees as soon as practicable, but no later than 120 days after the employee is first employed by the employer. Makes other changes.
Actions
DateChamberAction
01/31/2025SenateFiled with Secretary by Sen. Robert Peters
01/31/2025SenateFirst Reading
01/31/2025SenateReferred to Assignments
02/11/2025SenateAssigned to State Government
02/20/2025SenatePostponed - State Government
02/26/2025SenateAdded as Co-Sponsor Sen. Michael W. Halpin
02/27/2025SenateDo Pass State Government; 010-000-000
02/27/2025SenatePlaced on Calendar Order of 2nd Reading March 4, 2025
02/27/2025SenateAdded as Chief Co-Sponsor Sen. Robert F. Martwick
03/18/2025SenateSenate Floor Amendment No. 1 Filed with Secretary by Sen. Robert Peters
03/18/2025SenateSenate Floor Amendment No. 1 Referred to Assignments
03/19/2025SenateSenate Floor Amendment No. 1 Assignments Refers to State Government
03/19/2025SenateAdded as Co-Sponsor Sen. Sara Feigenholtz
03/19/2025SenateSenate Floor Amendment No. 1 Recommend Do Adopt State Government; 009-000-000
04/01/2025SenateSecond Reading
04/01/2025SenateSenate Floor Amendment No. 1 Adopted; Peters
04/01/2025SenatePlaced on Calendar Order of 3rd Reading April 2, 2025
04/03/2025SenateThird Reading - Passed; 048-006-000
04/04/2025HouseArrived in House
04/04/2025HouseChief House Sponsor Rep. Gregg Johnson
04/07/2025HouseFirst Reading
04/07/2025HouseReferred to Rules Committee
04/17/2025HouseAssigned to Personnel & Pensions Committee
04/24/2025HouseDo Pass / Short Debate Personnel & Pensions Committee; 008-004-000
04/24/2025HousePlaced on Calendar 2nd Reading - Short Debate
05/16/2025HouseSecond Reading - Short Debate
05/16/2025HousePlaced on Calendar Order of 3rd Reading - Short Debate
05/21/2025HouseThird Reading - Short Debate - Passed 074-037-000
05/21/2025SenatePassed Both Houses
06/18/2025SenateSent to the Governor
08/01/2025SenateGovernor Approved
08/01/2025SenateEffective Date August 1, 2025
08/01/2025SenatePublic Act . . . . . . . . . 104-0100