As states across the country take steps to address the financial needs of retiring workers, Illinois lawmakers are considering a new bill that would establish a retirement savings program for private sector employees that will be funded through automatic payroll deductions.

Illinois Senate Bill 2758, first introduced in January by Senator Daniel Biss (D-Evanston), calls for the creation of the Illinois Secure Choice Savings Program Fund – a state-run program that will be financed through payroll deductions from participating employees. The bill favorably passed through a House committee last week.

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