Illinois Administrative Code
Title 80 - PUBLIC OFFICIALS AND EMPLOYEES
Part 2700 - STATE (OF ILLINOIS) EMPLOYEES' DEFERRED COMPENSATION PLAN
Subpart H - MISCELLANEOUS
Section 2700.800 - Nonassignability

Universal Citation: 80 IL Admin Code ยง 2700.800

Current through Register Vol. 48, No. 38, September 20, 2024

a) The contract entered into between the Employer and a Participant through this Plan and the benefits, proceeds or payments under this Plan cannot be sold, assigned, pledged, commuted, transferred or otherwise conveyed by an Employee, Participant or Beneficiary. Any attempt to assign or transfer shall not be recognized and shall impose no liability upon the Employer.

b) Except as otherwise required by law and as provided in Sections 2700.850 and 2700.860 of this Part, any Deferred Compensation monies withheld pursuant to this Plan shall not be subject to attachment, garnishment, or execution, or to transfer by operation of law in the event of bankruptcy or insolvency of the Participant or otherwise.

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