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HB1435Introduced in the House

SECURE CHOICE PROGRAM-IRAS

IntroducedHouse Rules

Introduced by Gregg Johnson, District 72

What does this bill do?

Plain-English breakdown

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Official description

Amends the Illinois Secure Choice Savings Program Act. Provides that the accounts established under the Secure Choice Savings Program shall be IRAs, into which enrollees contribute funds that are invested in investment options established by the Illinois Secure Choice Savings Board. Provides that a separate account shall be established for each enrollee and the accounts shall be owned by the enrollee. Provides that the savings accounts established under the Program shall be portable and allow for an enrollee to make contributions from multiple employers into a single account. Provides that an enrollee in the Program may have both a Roth IRA and a Traditional IRA through the Program. Provides that the Board shall have the duty to assess the feasibility of agreements with other governmental entities, including other states and their agencies and instrumentalities, to achieve greater economies of scale through shared resources and to enter into those agreements if determined to be beneficial. Provides that an employer who fails without reasonable cause to enroll an employee in the Program within the time provided and fails to remit their contributions (rather than fails without reasonable cause to enroll an employee in the Program within the time provided) shall be subject to a penalty. Makes changes in provisions concerning employer and employee information packets. Effective immediately.

Where it stands

Added Co-Sponsor Rep. Stephanie A. Kifowit

April 21, 2025

How did lawmakers vote?

HouseStage: House Personnel & Pensions Committee · April 8, 2025

7

Yes

4

No

1

Absent or Not Voting

12 representatives recorded in this House vote. Colors show vote categories only, not whether a vote was good or bad.

What do people think?

Citizen Voice

How would you vote on this bill?

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See how each representative voted

Bill history

  1. Filed with the Clerk by Rep. Gregg Johnson

  2. First Reading

  3. Referred to Rules Committee

  4. Assigned to Personnel & Pensions Committee

  5. Do Pass / Short Debate Personnel & Pensions Committee; 008-004-000

  6. Added Co-Sponsor Rep. Martha Deuter

  7. Placed on Calendar 2nd Reading - Short Debate

  8. Added Co-Sponsor Rep. Laura Faver Dias

  9. House Floor Amendment No. 1 Filed with Clerk by Rep. Gregg Johnson

  10. House Floor Amendment No. 1 Referred to Rules Committee

  11. House Floor Amendment No. 1 Rules Refers to Personnel & Pensions Committee

  12. Second Reading - Short Debate

  13. Held on Calendar Order of Second Reading - Short Debate

  14. House Floor Amendment No. 1 Recommends Be Adopted Personnel & Pensions Committee; 007-004-000

  15. Rule 19(a) / Re-referred to Rules Committee

  16. House Floor Amendment No. 1 Rule 19(c) / Re-referred to Rules Committee

  17. Added Co-Sponsor Rep. Stephanie A. Kifowit

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