A new state program will automatically deduct money from the paychecks of about 1.2-million Illinois residents for their retirement savings. The move could reduce the use of food stamps, Medicaid and other publicly-funded social programs. According to Illinois Treasurer Michael Frerichs, Illinois Secure Choice is being phased in, more than 3 years after becoming state law. The state-sponsored retirement program works with certain businesses, who have over 25 employees. The business will be connected with a financial firm, who will provide ways for workers to build retirement savings with after-tax cash deducted from each paycheck, with a Roth individual retirement account. Workers can then be eligible for automatic enrollment, with 5-percent of gross pay being deducted and placed in a retirement fund. Enrollees will then be able to switch their savings rates and retirement funds or they can opt out of the program. The US Chamber of Commerce opposes the required retirement plan, calling it a poor substitute for typical employer-provided retirement plans. There are currently 8 businesses that have volunteered to be in the Secure Choice pilot program, with all companies that have over 25 employees being forced into the program or have a contract directly with firms that handle employee retirement accounts by November 2019. Illinois is now the 2nd state in the United States to participate in such an initiative.