Illinois Retirement Plan Mandate

What Illinois small business owners need to know about the Illinois Secure Choice Savings Program Act.

What is the Illinois Secure Choice Savings Program Act?

Illinois law now requires businesses with 5 more employees to offer a retirement savings plan, such as a 401(k) plan, for their employees. The deadline for compliance is November 1st, 2023. Failure to comply with this requirement could result in penalties and fines. The goal of the mandate is to help Illinois workers save for retirement and reduce the burden on the state’s social safety net programs. By offering a retirement savings plan, employers can help their employees achieve financial security in retirement.

What is Illinois Secure Choice?

Secure Choice is a Roth individual retirement account (IRA) intended to help the 1.2 million workers in Illinois without access to employer-sponsored retirement plans. Eligible employees will be automatically enrolled with a contribution rate of 5%, but have 30 days to opt-out or elect a different deferral percentage.

How can total solutions help?

Get assistance setting up
your own 401(k) plan

Setting up your own 401(k) plan can be both complicated and costly. While it can give you full control over the plan and investment options, it can also require significant expenses such as plan setup fees, document preparation fees, and ongoing administrative costs. Additionally, ensuring compliance with IRS and Department of Labor regulations can result in expensive fines and penalties if not done correctly. That’s why it’s important to work with a team of experts who can help guide you through the process. At Total Solutions, our experienced professionals can assist you in choosing a plan provider, setting up plan documents, and handling all administrative tasks related to the plan. By partnering with us, you can ensure that your 401(k) plan is set up correctly and in compliance with all regulatory requirements.

Partner with total Solutions and join a multiple employer plan

Joining a multiple employer plan (MEP) is a great way for businesses to offer a 401(k) plan to their employees. By pooling resources with other businesses, you can take advantage of lower investment fees and potentially provide better retirement benefits to your employees. At Total Solutions, we offer a MEP that is designed to meet the unique needs of small businesses in Illinois. Our MEP offers a wide range of investment options to choose from, so you can customize the plan to meet the needs of your business and employees. By partnering with us, you can also benefit from our expertise in compliance and risk management, and we handle all administrative tasks related to the plan, so you don’t have to worry about the details.

Partner with a professional employer organization (PEO)

Partnering with a PEO is a smart choice for businesses looking to streamline their HR functions and ensure compliance with Illinois law, as PEOs offer expertise in compliance and risk management, assume many of the legal responsibilities, allowing them to focus on core competencies. By working with a PEO like Total Solutions, you can enjoy the benefits of a full HR department without the added cost and administrative burden. We provide a range of HR services, including payroll administration, employee benefits, and risk management, among others. By partnering with us, you can save time and money while accessing a wide range of expertise and resources. Our team of HR experts can help you navigate the complex world of HR compliance and stay up-to-date with changing regulations, so you can focus on growing your business.

Why Partner with Total Solutions’ PEO?

  • Total Solutions PEO specializes in helping businesses comply with the Illinois 401(k) plan mandate.
  • Our 401(k) plan includes automatic enrollment, investment education, and flexible contribution options.
  • We handle all administrative tasks related to the plan, such as record-keeping, reporting, and compliance testing.
  • We offer a range of other HR services, including payroll administration, employee benefits, and risk management.
  • By partnering with us, you can have an HR partner without the added cost and administrative burden of hiring a full team.
  • Our team of HR experts can help you navigate the complex world of HR compliance and stay up-to-date with changing regulations.
  • We provide customized solutions that meet the unique needs of your business, allowing you to focus on what you do best.

PEO Frequently asked questions

​We aren’t a “temp” agency and we don’t view your employees as temporary. When you work with us, you’re entering into a co-employment agreement for the employees you hire or already have in place.

Yes, they are all yours! We handle administrative functions, but you still make day-to-day decisions and retain complete control.

To decide if a professional organization is right for you, there are many factors to consider! Your time spent on these tasks is hard to quantify, but we can look at your hard costs for starters. Add up your workers’ compensation premium, payroll costs, and all benefits costs for your organization. Our team will prepare a comparison with our rates to make sure you are going to find savings. Then we can talk about the many reasons to join!

Meet the Total Solutions PEO Team

Deb Mueller, PEO Relationship Manager
Deb Mueller – PEO Relationship Manager

Deb, previously Manager of Business Growth at the Quad Cities Chamber of Commerce, has joined Total Solutions team in February 2023 as PEO Relationship Manager. With 32 years of experience in the financial industry, she held various management, sales, service, and support roles. Deb’s responsibilities included having strategic conversations with businesses to connect them with the right resources for growth, implementing retention strategies for members, and running programs like Peer Roundtables and 12@12 Lunch with Leaders. In 2019, Deb was inducted into Who’s Who in America, which she feels humbled and proud of. Her favorite and most rewarding part of her banking career was helping businesses with their banking needs, from deposit accounts to loans and ancillary products.

Sarah Kramer – Director of human resources

Sarah is the Director of HR and joined the Total Solutions team in 2015. Previously Sarah has worked in such industries as retail, medical and manufacturing. In her current role Sarah oversees the HR business line, which includes payroll, recruitment, and HR services. Sarah provides HR compliance services to small businesses in our area.

Sarah is a Quad Cities native who grew up in Moline, IL and graduated from Moline High School. Sarah has a bachelor’s degree in Business Administration with an emphasis in Human Resource Management from Northern Illinois University in DeKalb, IL. Sarah currently resides in Davenport, IA with her fiancé Andrew and black lab Jack.

Small businesses that work with a PEO grow 7-9% faster, have employee turnover that is 10-14% lower, and are 50% less likely to go out of business.

What our PEO clients are saying

With a full-time staff of only 7 people, we historically struggled to find a partner who could deliver both top quality health care options as well as salary and benefits administration. Fortunately, we found that partner last year with Total Solutions. They have been professional, responsive, and easy to work with. I would recommend them to any small business looking for the same kind of support.” Clair Peterson Tournament Director / John Deere Classic As our team grew, we saw a need to offer benefits to our employees to remain competitive. Total Solutions' PEO model provided just what we needed: flexible benefits that we could afford. Because they manage all aspects of offering benefits - from enrollment to pricing to answering employee questions - we can focus our time on our clients and not worry that we remain in compliance with ever-chaning regulations around benefits administration." Linda Wastyn President / Wastyn & Associates Linda Wastyn In the non-profit sector, maintaining lean budgets and high expectations is a delicate balance. Our partnership with Total Solutions has allowed us to have both.” Jen Dobrunz Executive Director / Quad City Cultural Trust

Get back to business today

Transform the way you manage your employees with the Total Solutions PEO