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Full-Text Articles in Retirement Security Law
Illinois Secure Choice Savings Program Act (Passed Jan. 4, 2015), Emily G. Brown Jd, Ellen Bruce Jd
Illinois Secure Choice Savings Program Act (Passed Jan. 4, 2015), Emily G. Brown Jd, Ellen Bruce Jd
Pension Action Center Publications
The Illinois Secure Choice Savings Program Act, passed on January 4, 2015, creates an automatic enrollment payroll deduction IRA. The purpose of the program is to promote increased retirement savings participation for employees in the private sector. This fact sheet answers some basic questions about how this new program will affect workers and their employers in Illinois.
Protecting Our Aging Retirees: Converting 401(K) Accounts Into Federally Guaranteed Lifetime Annuities, Lawrence A. Frolik
Protecting Our Aging Retirees: Converting 401(K) Accounts Into Federally Guaranteed Lifetime Annuities, Lawrence A. Frolik
Articles
America’s retirees are faced with a potential financial disaster. Economic security in retirement has long depended on Social Security, private savings and employer provided retirement plans. While much attention has been paid to the financial problems of Social Security and the lack of private saving for retirement, little attention has been paid to an alarming development in employer provided retirement plans: the likely inability of retirees during the long years of their retirement to successfully manage their retirement funds accumulated in 401(k) and similar accounts. We as a society have set up a funding system for retirement that assumes retirees …