Yingling-Supported Legislation Extends Retirement Plan Option

ROUND LAKE BEACH, Ill. – State Rep. Sam Yingling, D-Grayslake, is backing legislation that would extend the Secure Choice Savings Program (SCSP), which provides retirement savings options to private sector employees in Illinois.

“Regardless of where they work, everyone deserves to be able to easily save for retirement,” said Yingling. “Not all employers offer retirement plans to their employees, which is why it is critical that people have other options to save.”

The SCSP is a Roth IRA retirement savings program offered to private sector employees. Yingling is co-sponsoring House Bill 117, which requires employers who have at least one employee, have operated for at least two years, and do not offer a qualified retirement plan to participate in the SCSP.

Throughout his time as state representative, Yingling has fought to protect the retirement of his constituents. In the past, he sponsored a resolution that opposed the taxation of retirement income. He also regularly holds senior fraud seminars to help retirees protect their income from those looking to take advantage of them.

“Not only it is important that everyone has the opportunity to prepare for retirement, we must also make sure that we are supporting retirees,” said Yingling. “I am proud to be an advocate for retirees, and I will continue to work to make sure everyone has the opportunity to have a comfortable retirement.”