Illinois 2025-2026 Regular Session

Illinois Senate Bill SR0113 Compare Versions

Only one version of the bill is available at this time.

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3	3	1 SENATE RESOLUTION
4	4	2 WHEREAS, The State of Illinois is home to a diverse and
5	5	3 vibrant workforce that contributes significantly to the
6	6	4 economic success and growth of our State; and
7	7	5 WHEREAS, As our population continues to age, the
8	8	6 importance of securing financial stability and independence in
9	9	7 retirement becomes increasingly evident for individuals of all
10	10	8 socioeconomic backgrounds; and
11	11	9 WHEREAS, It is universally recognized that retirement
12	12	10 savings are essential for maintaining financial well-being in
13	13	11 later years as well as for promoting dignity, security, and a
14	14	12 high quality of life; and
15	15	13 WHEREAS, Despite the importance of preparing for
16	16	14 retirement, many workers across Illinois lack access to
17	17	15 retirement savings options or face barriers to participation
18	18	16 in employer-sponsored retirement plans, which can lead to
19	19	17 financial insecurity in their later years; and
20	20	18 WHEREAS, Employers, as key partners in the workforce, have
21	21	19 an ethical obligation to provide their employees with access
22	22	20 to retirement savings options as part of their responsibility
23	23	21 to support their employees' long-term financial health and
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32	32	1 security; and
33	33	2 WHEREAS, Offering retirement options, such as 401(k)
34	34	3 plans, IRAs, or other retirement savings programs, not only
35	35	4 benefits employees but also strengthens our State's economy by
36	36	5 ensuring that workers can retire with confidence and continue
37	37	6 to contribute to the State's consumer spending and economic
38	38	7 growth; and
39	39	8 WHEREAS, The retirement community is a critical segment of
40	40	9 the Illinois economy whose members drive demand for goods and
41	41	10 services and create jobs across various industries, including
42	42	11 healthcare, housing, and entertainment, all of which enhance
43	43	12 the quality of life for Illinois residents; and
44	44	13 WHEREAS, Employers who provide retirement plans
45	45	14 demonstrate a commitment to the long-term well-being of their
46	46	15 employees, fostering loyalty, improving employee morale, and
47	47	16 helping to retain a talented workforce; therefore, be it
48	48	17 RESOLVED, BY THE SENATE OF THE ONE HUNDRED FOURTH GENERAL
49	49	18 ASSEMBLY OF THE STATE OF ILLINOIS, that we recognize the moral
50	50	19 responsibility of all employers to ensure their valued
51	51	20 employees have a path to secure retirement, and as such, we
52	52	21 urge employers across the State to provide quality retirement
53	53	22 savings options for their employees in recognition of the
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