Ill. Admin. Code tit. 74, § 721.400 - Eligibility
a) Provided they
meet the requirements of section 408 and 408(A) of the Internal Revenue Code,
the following individuals are eligible to participate in the Program:
1) All employees 18 years or older, who work
for employers that have 5 or more employees, that have been in business for at
least 2 years, and that do not offer qualified retirement plans will be
automatically enrolled in the Program;
2) All employees who work for a small
employer that chooses to make the Program available to its employees;
3) Any employee who does not work for a
participating employer may set up their own account but may be required to make
contributions through methods other than a payroll deduction; and
4) Any individual with earned income during
the calendar year, regardless of whether they work for an employer.
b) Total employee count is based
on employer-reported quarterly data submitted to the Department.
Notes
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