Illinois § 15
Full text of Illinois Illinois Compiled Statutes § 15, with citation guidance and answers to common questions.
§ 15.
Illinois Secure Choice Savings Program Fund. (a) The Illinois Secure Choice Savings Program Fund is hereby established as a trust outside of the State treasury, with the Board created in Section 20 as its trustee. The Fund shall include the individual retirement accounts of enrollees, which shall be accounted for as individual accounts. Moneys in the Fund shall consist of moneys received from enrollees and participating employers pursuant to automatic payroll deductions and contributions to savings made under this Act. The Fund shall be operated in a manner determined by the Board, provided that the Fund is operated so that the accounts of enrollees established under the Program meet the requirements for IRAs under the Internal Revenue Code. (b) The amounts deposited in the Fund shall not constitute property of the State and the Fund shall not be construed to be a department, institution, or agency of the State. Amounts on deposit in the Fund shall not be commingled with State funds and the State shall have no claim to or against, or interest in, such funds. (c) The Illinois Secure Choice Savings Program Fund is an instrumentality of the State, and as such, is exempt from Sections 2a, 5, 6 and 7 of the Illinois Securities Law of 1953. (Source: P.A. 100-6, eff. 6-30-17.)
Frequently Asked Questions About Illinois § 15
What does Illinois Compiled Statutes § 15 cover?
Section 15 is part of the Illinois Compiled Statutes, the codified statutory law of Illinois. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Illinois § 15?
A common citation format is "Illinois Compiled Statutes § 15" (Illinois). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Illinois law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Illinois official source linked on this page or consult a licensed Illinois attorney.
How does Illinois § 15 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Illinois can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Illinois.