My Illinois Savings: does your business have to register, and by when?

If your Illinois business had five or more employees in every quarter of last year, has been in business for at least two years, and offers no qualified retirement plan, the state requires you to register with My Illinois Savings, formerly Illinois Secure Choice.

The next deadline is November 1, 2026, for businesses newly notified in 2026.

Newly notified businesses register by the date on their notice. If you already offer a 401(k), you certify an exemption instead.

Deadline coming upMy Illinois Savings (also called Illinois Secure Choice)

Who has to do this?

Under the Illinois Secure Choice Savings Program Act (820 ILCS 80)5, a Illinois employer is covered when all of these are true:

  • You had five or more employees in Illinois in every quarter of the previous calendar year. 2
  • You have been in business for at least two years. 5
  • You don't offer or contribute to a qualified retirement plan. 5

What a covered employer does: Register with My Illinois Savings and send payroll deductions for employees who don't opt out, or certify an exemption. 1

When?

The next deadline is November 1, 2026, for businesses newly notified in 2026.

My Illinois Savings deadlines
WhoDeadlineWhat is due
Employers with 500 or more employeesNovember 2018Register or certify an exemption 7
Employers with 100 to 499 employeesJuly 2019Register or certify an exemption 7
Employers with 25 to 99 employeesNovember 2019Register or certify an exemption 7
Employers with 16 to 24 employeesNovember 2022Register or certify an exemption 7
Employers with 5 to 15 employeesNovember 1, 2023PassedRegister or certify an exemption 8
Businesses newly notified in 2026November 1, 2026Register or certify an exemption 2

Each year the program notifies businesses that newly meet the test. The notice gives an Access Code and a registration deadline. 7

What is My Illinois Savings?

  • Employees are enrolled in a Roth IRA, or can choose a traditional IRA, at 5% of pay by default. 3
  • Unless the employee opts out or picks another rate, it rises 1% each January up to 10%. 3
  • Employers do not contribute; matching is not permitted. Employees have 30 days to opt out and can opt out at any time. 1
  • The Treasurer relaunched Illinois Secure Choice under the name My Illinois Savings in 2026. 4

What if we already have a 401(k)?

  • Employers that sponsor or contribute to a qualified plan, such as a 401(k), 403(b), SEP IRA or SIMPLE IRA, are not required to register. 1
  • Certify your exemption online with the Access Code from your notice and your FEIN. 1

Your two options

Either one meets the requirement. The state program column is as the state describes it; which suits you depends on your business and your people.

Join My Illinois SavingsOffer your own plan
What you doRegister with My Illinois Savings and send payroll deductions for employees who don't opt out, or certify an exemption. 1Certify an exemption online with the Access Code from your notice and your FEIN. 1
Where the money goesA Roth IRA for each employee, by default 3Accounts in the plan you choose, such as a 401(k)
Employer contributionsNot permitted 1Up to you, within the plan's design
Fee to the employerNo employer fees, according to the program. 1Set by the provider you choose

What does it cost?

The state program: No employer fees, according to the program. 1

Your own plan: the provider sets the fees, and federal tax credits can cover part of the cost of starting one. See 401(k) tax credits for small businesses and our pricing.

What happens if we don't?

  • The Illinois Department of Revenue may charge $250 per employee for the first calendar year of noncompliance and $500 per employee for each later year, after a notice and 120 days to respond or comply. 6

General information, not legal advice. Rules change; confirm with the state program or your counsel.

Sources & Methodology
  1. Illinois State Treasurer, My Illinois Savings, Employers. Read October 13, 2026.
  2. Illinois State Treasurer, My Illinois Savings, Program details (employers). Read October 13, 2026.
  3. Illinois State Treasurer, My Illinois Savings, Program description, page dated June 2026. Read October 13, 2026.
  4. Illinois State Treasurer, Illinois Treasurer Michael Frerichs relaunches state retirement program for small businesses with lower fees and new name, page dated May 6, 2026. Read October 13, 2026.
  5. Illinois General Assembly, 820 ILCS 80/5, Definitions. Read October 13, 2026.
  6. Illinois General Assembly, 820 ILCS 80/85, Penalties. Read October 13, 2026.
  7. Illinois State Treasurer, Illinois Secure Choice FY2025 annual report. Read October 13, 2026.
  8. Illinois State Treasurer, Illinois Secure Choice 2022 annual report. Read October 13, 2026.

Each statement is paraphrased or quoted from the source it cites. A link to a state agency does not mean the agency endorses alooola. Last verified October 13, 2026.

Get help with My Illinois Savings in three steps

  1. Tell us about your business: your state, how many people work for you, and any plan you have now.
  2. An advisor talks it through with you and sends a written proposal with the fees, so you can weigh it against the state program.
  3. If you choose your own plan, we coordinate the setup with you and your payroll provider. You then certify your exemption with the state.
Request a proposal

Prefer to talk? Call (484) 275-5525, Monday–Friday, 9am–5pm ET.