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TITLE 80: PUBLIC OFFICIALS AND EMPLOYEES
SUBTITLE H: DEFERRED COMPENSATION CHAPTER I: ILLINOIS STATE BOARD OF INVESTMENT PART 2700 STATE (OF ILLINOIS) EMPLOYEES' DEFERRED COMPENSATION PLAN SECTION 2700.320 DEFERRED COMPENSATION HARDSHIP COMMITTEE
Section 2700.320 Deferred Compensation Hardship Committee
a) A Hardship Committee shall be formed that shall be responsible for determining whether any Participant has suffered an Unforeseeable Emergency and is entitled to a distribution under Section 2700.740 of this Part.
b) Members of this Hardship Committee shall be appointed by the Department but shall include at least:
1) one Department employee, and
2) two persons not employees of the Department.
c) Members of this Committee shall be entitled to defer Compensation so long as they are otherwise eligible; however, no member of the Hardship Committee shall make any determination with respect to any interest that he or she may have under the Plan.
(Source: Amended at 30 Ill. Reg. 8408, effective April 21, 2006) |