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October 23, 2014, 12:58 am
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970 WMAY News

State Lawmaker Pushes Retirement Savings Plan For Those Without 401(k)

A state lawmaker says millions of Illinoisans don’t have access to a 401(k)-style program through their job… and without it, he says they are unlikely to set up a retirement account on their own. 


Democratic state Senator Daniel Biss of Evanston is calling for the creation of the “Secure Choice” progam, which would automatically enroll workers who are not covered by another employer-based retirement plan.  Workers would have the ability to opt out. 


Appearing live on 970 WMAY's "Jim Leach Show," Biss said the program does not pose any financial risk to the state.

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