Small business owners must offer retirement benefits as 2018 state law finishes rollout – WEEK (Peoria)

A state law passed in 2018 required all private employers to offer retirement benefits to their workers by November 2023. They essentially have limited options. Business owners can enroll in their own retirement plans, use the state-sponsored Illinois Secure Choice, or face fines of $250 per employee per year for the first offense, and $500 per employee per year for subsequent offenses.