In his October newsletter, Illinois Treasurer Michael Freirichs describes the new Illinois Secure Choice retirement savings program
that travels with the worker. The General Assembly established the program as part of a larger retirement savings law to address the retirement savings crisis in our country. Too many people forgot, or were never taught, that Social Security was designed to supplement, not replace, personal savings …
Workers are 15 times more likely to save for retirement if they can do so through payroll deductions, according to an AARP study. And there’s a need to save—23 percent of retirees rely upon Social Security for 90 percent of their retirement income.
The enrollment deadline is Nov. 1. Please see the Illinois Secure Choice page at illinoistreasurer.gov/Individuals/Secure_Choice for more information.
