Illinois Administrative Code
Title 80 - PUBLIC OFFICIALS AND EMPLOYEES
Part 2700 - STATE (OF ILLINOIS) EMPLOYEES' DEFERRED COMPENSATION PLAN
Subpart C - ADMINISTRATION
Section 2700.312 - Responsibilities of the Pay Agency
Universal Citation: 80 IL Admin Code ยง 2700.312
Current through Register Vol. 48, No. 38, September 20, 2024
a) The Pay Agency shall receive salary deferral elections and revocations from the Recordkeeper and the Department and then apply them to the first appropriate Pay Period and ongoing Pay Periods according to the rules of the Plan.
b) The Pay Agency shall monitor for and suspend a Participant's deferrals for the remainder of the calendar year when the Participant has deferred the allowable maximum.
c) The Pay Agency shall work with the Department and Recordkeeper as needed to withdraw and return any excess amount deferred consistent with Section 2700.440(f). This subsection (c) does not apply to Loan repayments under Section 2700.770.
Disclaimer: These regulations may not be the most recent version. Illinois may have more current or accurate information. We make no warranties or guarantees about the accuracy, completeness, or adequacy of the information contained on this site or the information linked to on the state site. Please check official sources.
This site is protected by reCAPTCHA and the Google
Privacy Policy and
Terms of Service apply.
