New Rules for State Retirement Savings Plans
•November 18, 2015• U.S. Secretary of Labor Thomas E. Perez and Illinois State Treasurer Michael Frerichs on Monday announced sweeping new rules outlining the path forward for state-sponsored retirement savings initiatives. Secretary Perez and Treasurer Frerichs listened to leaders who worry that the looming retirement savings crisis will have a profound impact on lower-income workers’ quality of life in retirement and become an untenable burden on states. The Department of Labor’s proposed rules will dismantle barriers for state-based solutions to the retirement savings crisis, including Illinois’ Secure Choice Retirement Savings Program. Already, 26 states, including Illinois have taken some type … Read More
