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)