Section 2700.670  Investment Funds

a)         The Board may establish any or all of the following Funds for the investment of Deferred Compensation:

1)         Investment Fund A which shall be invested primarily in savings and loan or commercial bank deposits, commercial paper, or guaranteed interest contracts of insurance companies.

2)         Investment Fund B which shall be invested primarily in corporate or Government bonds or pooled investment vehicles, such as mutual funds, whose investment policies emphasize such investments.

3)         Investment Fund C which shall be invested in insurance company contracts, either on a group or individual basis, designed to provide an annuity.

4)         Investment Fund D which shall be invested primarily in common or preferred stocks, similar equity securities or other property expected to offer growth possibilities or pooled investment vehicles, such as mutual funds, whose investment policies emphasize such investments.

b)         The Board may establish more than one Investment Fund for each category described above if deemed appropriate.

c)         The Board is specifically authorized to utilize outside investment managers to the extent deemed appropriate by the Board.

d)         The Board also has the authority to eliminate any or all of the Investment Funds created by the Plan, provided that in such event, the Department shall notify any Participant who has requested that his or her Deferred Compensation Account be measured as if invested in the Investment Fund or Funds which have been eliminated.  Any such Participant shall then have the opportunity to change his or her investment request or revoke his or her deferral pursuant to Section 2700.450 regardless of any other provision of this Plan.

(Source:  Amended at 18 Ill. Reg. 7224, effective May 2, 1994)