Chicago's Benefits Plan Specialists

A national leader in the design and administration of  pension, profit sharing and 401(k) plans.

Alternatives to Secure Choice - Illinois Mandatory Retirement Plan

Beginning in 2019 all Illinois employers must either offer some type of retirement plan for their employees or they must enroll in Illinois’ mandatory plan “Secure Choice”.  The cost of failure to comply is $250 per employee the first year and $500 per employee each year thereafter.

Given Illinois history of failure with retirement plans, it’s easy to understand why employers might be hesitant to sign up for a program administered by the state.  But there are alternatives, and good ones.

Contact us to find out how you can avoid the state plan and still comply with the requirement.

2020 Plan Limits - See the new announced limits.

Download Forms - Need a form.  Download it directly from this page.

Retirement Plan Links – Need an IRS form? Want to see a previously filed 5500? Heres’s a collection of links that represent a wealth of information.

What's the difference between a 401(k) and a Profit Sharing Plan? Is a defined benefit plan right for you? Find the answers in our descriptions of the different types of retirement plans.