The Freedom to Choose

IRMA's 401K Program

Providing a retirement plan to Illinois workers is not without its challenges. Factors such as an increasingly complex regulatory environment and greater focus on plan sponsor fiduciary responsibilities present opportunities for a business to partner with a leading provider to administer a hassle-free, stable plan.

The Illinois Secure Choice Savings Act requires Illinois businesses that have been in operation for two or more years and employ at least 25 employees to offer all workers an individual retirement savings option. Businesses who do not offer a savings plan will automatically be enrolled in the newly created Illinois Secure Choice Savings Program which requires a minimum 3% payroll deduction. Participation in IRMA’s 401k program gives Illinois retailers the freedom to enroll their employees in a secure plan without administrative or fiduciary responsibility and without obligation and restrictions from the new law.

IRMA 401k Program

Part of Something Bigger

Different sized businesses have their own respective advantages. Larger businesses may have access to more resources, and smaller businesses may be able to adapt to change more quickly. When you become part of The Alliance of State Retail Association’s 401(k) Plan, you get the best of both worlds.

As you look to strike the right balance, you need to be able to achieve economies of scale without sacrificing personal attention and service, meet the savings needs of your workforce without tapping into the resources you need to provide the service excellence your clients appreciate and respect, and continue to focus on and invest in your core business without going over budget on your retirement benefit costs.

The Right Solution for You

When you become part of the plan, you can:

  • Spend less time on the administration of your retirement plan and more time focused on your organization’s goals.
  • Provide a high-quality benefit that can help you recruit top-level talent and retaining your current staff.
  • Benefit from an institutional pricing model that may not be available to you as an independent 401(k) plan sponsor.
  • Get expert investment selection and monitoring services from a third party fiduciary investment manager that also takes the responsibility for the quality of the investments.
  • Become part of a strong, stable plan, while keeping the flexibility to design the features that would work best for your organization.

Heavily Awarded

Are you ready to offer your employees a savings program without the administrative burden, liability, or restrictions within the upcoming State mandate?

Click below to learn more or to contact a program representative.

Learn More About the Program