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Illinois State Treasurer visits Rockford to discuss savings program

In the Rockford area, 4,200 workers with 191 employers saved $2.5 million with Michael Frerichs’ program
Retirement savings plan
Retirement savings plan(WIFR)
Published: Apr. 11, 2022 at 7:18 PM CDT
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ROCKFORD, Ill. (WIFR) - Illinois State Treasurer, Michael Frerichs, visited Village Green Home and Garden in Rockford Monday afternoon to talk about the store’s participation in his mobile retirement savings account program.

More than 100,000 workers and 6,400 employers take part in the Secure Choice program across the state. Frerichs launched the service in an effort to fight the retirement savings crisis in Illinois, and across the United States. In the Rockford area, 4,200 workers with 191 employers saved $2.5 million with Frerichs’ program.

He said it’s in innovative plan to help people live comfortably when they retire.

“What’s important about this is the flexibility in how many times employees will transfer from one corporation to another, and the hassles involved with rolling over a 401k to a new employer affect too many people, so we’ve made this easy,” said Frerichs.

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