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|The New Illinois Secure Choice Savings Program: Considerations for Employers|
Epstein Becker Green
Jan. 22, 2015
"[T]he Program's treatment of contributions to a Roth IRA as a payroll deduction implicates federal income and payroll tax obligations with respect to those funds. Contributions to Program accounts, when combined with an employee's IRA contributions outside of the Program, may not exceed the Tax Code's annual limit. The extent of an employer's responsibility, if any, in connection with an employee's compliance in this context, remains to be developed."
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