Durbin Discusses Retirement Security With Illinois State Treasurer

WASHINGTON – U.S. Senate Majority Whip Dick Durbin (D-IL) today met with Illinois State Treasurer Mike Frerichs about the state of retirement and financial security in Illinois. During their meeting, Durbin received an update from Frerichs about Illinois Secure Choice, a state-facilitated retirement program that helps Illinois employers provide their workers with access to a retirement savings vehicle. Durbin and Frerichs also discussed the ABLE Age Adjustment Act as a possible avenue to offer more Illinoisans living with disabilities the opportunity to save by raising the onset eligibility age for ABLE accounts – tax-exempt savings accounts that allow disbursements for qualified disability expenses – from 26 to 46 to allow for a greater number of people with disabilities to open an account.


“Every Illinoisan deserves access to a secure, reliable retirement savings vehicle that they can count on after dedicating decades of their lives to the American workforce,” said Durbin. “I had an important and fruitful discussion with Treasurer Frerichs today about how the federal government can support Illinois in establishing a stronger sense of financial security for individuals living with disabilities, workers, and retirees.”


A photo of the meeting is available here.