Section 2700.420  Allowable Deferrals

a)         Minimum Deferrals.  Each Employee who becomes a Participant must agree to defer a minimum amount of $10 per Pay Period or 1% of Compensation each Pay Period.

b)         Maximum Deferrals − No limit.  Participants may contribute any whole percentage or dollar amount up to 100% of currently available Compensation each payroll period, subject to the limitations under Code sections 402(g) and 415.

(Source:  Amended at 46 Ill. Reg. 15777, effective August 31, 2022)