THE U-S HOUSE RECENTLY ADOPTED RESOLUTIONS OVERTURNING FEDERAL RULES THAT HELPED ILLINOIS CREATE THE PROGRAM. THE MATTER IS NOW BEFORE THE SENATE AND FRERICHS IS URGING A NO VOTE. HE SAYS SECURE CHOICE IS NEEDED IN ILLINOIS TO HELP WORKERS SAVE FOR RETIREMENT.

 

 

FRERICHS SAYS THE INITIATIVE IS NEEDED FOR THE MORE THAN ONE MILLION WORKERS WHO DON’T HAVE AN EMPLOYER BASED SAVINGS OPTION AND AREN’T SAVING ON THEIR OWN.

 

 

THE U-S HOUSE PASSED RESOLUTIONS OVERTURNING THE RULES AND THEY NOW FACE A VOTE IN THE SENATE. ILLINOIS WAS THE FIRST STATE IN THE NATION TO CREATE SUCH A PROGRAM. IT’S SCHEDULED TO BEGIN NEXT YEAR AND IS DESIGNED FOR EMPLOYEES OF SMALL TO MEDIUM SIZE BUSINESSES THAT DON’T HAVE A WORKPLACE SAVINGS PROGRAM.