Assured Staffing is pleased to be a participating employer in the Illinois Secure Choice (ILSC) retirement savings plan. Our employees like it too – the voluntary participation rate is 62% of our eligible workforce!
With ILSC, employees are automatically enrolled in an individual ROTH IRA after 30 days of employment, unless they decide to opt out. Employees also decide how much to put into their account. Typical contributions range from 1%-5% of gross income.
Contributions are added to each employee’s individual ROTH IRA accounts on a weekly basis. This account is owned and controlled by the individual, and will grow tax-free until retirement.
ROTH IRA accounts are particularly valuable in retirement, as all amounts in the account may be withdrawn tax-free, as long as the account holder is 59 ½ years old and has had the account for at least five years.
Congratulations to all Assured employees who have signed up for ILSC and taken an important step towards retirement security!