Work Hard. Save Easy.
AARP fought for the Illinois Secure Choice Savings Program to Make Saving Easier.
Millions of people across Illinois don’t have a way to save for retirement at work, putting them at risk of not even being able to afford everyday expenses like food and healthcare. While Social Security is a critical piece of the puzzle, it is not enough to depend on. The average Social Security benefits for a 65+ family is only about $18,000 a year, while older Illinoisan families on average spend $21,000 a year on food, utilities, and health care alone.
That’s why AARP championed the Illinois Secure Choice Savings Program to make sure that every worker has a chance to put aside the money they need to take control of their future.
Here’s how Illinois Secure Choice can help:
- Illinois Secure Choice makes saving easy. You can easily set aside money for the future right out of your regular paycheck. Contributions into a Roth IRA account are automatically processed through payroll deductions. And, if you change jobs, your retirement savings will move with you.
- Illinois Secure Choice helps businesses. Workers are more productive when they have more financial security. Employers also can attract and retain workers by facilitating a retirement option. This auto-enroll program provides an easy retirement savings option for businesses that do not currently offer a retirement savings plan. As an employer, all you have to do is pass information on to your employees and add a payroll deduction from participating employee’s paychecks – with zero employer fees and no fiduciary responsibility.
AARP believes that hard-working Illinoisans should be in control of their financial futures, and we won’t stop fighting to help you. Sign up on aarp.org/getinvolved to receive our free monthly e-newsletter and email action alerts on the issues you care about.