KNOWLEDGE CENTER
As of November 1, 2019, the Illinois Secure Choice Savings Program Act (more commonly known as Secure Choice) will require all businesses with over 25 employees that have been operating for more than two years to offer their employees access to a qualified retirement savings account.
If you’re a small business located in IL here’s what you need to know…
Starting a business is full discoveries and learning experiences. Once you hire your first employee, you discover there are a variety of rules and regulations you do have to follow, including the benefits you’re required to provide your employees.
To be clear: by “benefits,” we don’t just mean value-add perks that help you recruit and retain top-level employees (like a keg of cold-brew in the break room). We’re talking about benefits mandated by state and local governments, like paying into unemployment insurance.
So which benefits are optional and which are you legally required to provide?
Which are mandated by the state and which by the federal government?
Read on for a guide to make sure you’re offering the right benefits to your employees and staying in compliance with the laws where you live.
