Section 2700.435  Age 50 Catch-up Annual Deferral Contributions

A Participant who will attain age 50 or more by the end of the calendar year is permitted to elect an additional amount of Annual Deferrals, up to the maximum age 50 catch-up Annual Deferrals for the year.  The maximum dollar amount of the age 50 catch-up Annual Deferral for a year is $4,000 for calendar year 2005; and for 2006, or after, the maximum age 50 catch-up dollar amount is $5,000, adjusted for cost-of-living after 2006 to the extent provided under the Code.

(Source:  Added at 30 Ill. Reg. 8408, effective April 21, 2006)