Illinois Administrative Code
Title 80 - PUBLIC OFFICIALS AND EMPLOYEES
Part 2700 - STATE (OF ILLINOIS) EMPLOYEES' DEFERRED COMPENSATION PLAN
Subpart A - INTRODUCTION AND PURPOSE OF PLAN
Section 2700.110 - Purpose of Plan
Universal Citation: 80 IL Admin Code ยง 2700.110
Current through Register Vol. 48, No. 38, September 20, 2024
a) The purpose of this Plan is to allow Employees to designate a portion of their Compensation to be withheld each month by the State of Illinois and invested at the discretion of and in a manner approved by the Board in accordance with section 457 of the Code until Severance of Employment, Unforeseeable Emergency or death of the Employee.
b) Participation in this Plan shall not be construed to establish or create an employment contract between the Employee and the State of Illinois.
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