• What is Illinois Doing for Small Business?

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    We recently learned from our member, Small Business Majority about an upcoming Senate vote. Here is some information for all small businesses. Be aware, be informed. The links within this blog, written by SBM, will take you to more information, statistics and a letter outlining further details for your consideration. The WSCCI plans to hold an informational session on this topic in early April. Stay tuned and let us know if you'd like more information or would like to attend the session. Email Suzi Wirtz at suziw@wscci.org

    This week the U.S. Senate will vote to overturn a Department of Labor rule that makes it easier for states to establish retirement savings plans, like the Secure Choice Retirement Savings Program being implemented here in Illinois. Striking down this rule would have a chilling effect on Illinois’ Secure Choice Program, and it would be especially harmful to our state's small businesses and their employees. 
    Many small businesses want to offer retirement savings programs to help attract and retain talented employees, but aren’t able to because of issues like size, cost and administrative capacity. The Secure Choice Program will provide an easy and affordable option for small businesses, which is why they strongly support it. In fact, polling from Small Business Majority found two-thirds of Illinois small businesses believe the state should do more to help them prepare for retirement, and the majority supported legislation establishing the Secure Choice Program.
    This is why we believe states should be able to decide whether to implement these types of programs and how best to administer them to serve small businesses and employees struggling to save for retirement. We urge the Senate to consider how these programs can help small businesses and uphold the Labor Department’s rule. 
     
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