Illinois Administrative Code
Title 80 - PUBLIC OFFICIALS AND EMPLOYEES
Part 2700 - STATE (OF ILLINOIS) EMPLOYEES' DEFERRED COMPENSATION PLAN
Subpart F - PARTICIPANT'S ACCOUNTS, INVESTMENTS AND STATEMENTS
Section 2700.600 - Deferred Compensation Accounts
Universal Citation: 80 IL Admin Code ยง 2700.600
Current through Register Vol. 48, No. 52, December 27, 2024
a) The State of Illinois shall establish a Deferred Compensation Account for each Participant that shall be the basis for any distributions payable to the Participant under Section 2700.730.
b) Each Participant's Deferred Compensation Account shall be credited with the amount of any Compensation deferred and shall be further credited or debited, as applicable, with:
1) any increase or decrease resulting from
investments made by the State pursuant to Section
2700.670;
2) any applicable expenses incurred by the
State in maintaining and administering the Plan;
3) any debits for the amount of any
distribution;
4) any credit for the
initial value on the effective date of the Plan of any bookkeeping account
maintained under the Prior Plans; and
5) any adjustment resulting from amounts
loaned, repaid or defaulted in respect of a Loan under Section
2700.770.
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