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 2700.640 METHOD OF MAKING INVESTMENT REQUESTS


 

Section 2700.640  Method of Making Investment Requests

 

a)         A Participant shall, at the time of enrollment, make an investment request under the Plan, unless the Participant is automatically enrolled in the Plan.

 

b)         Once made, an investment request shall continue for any deferments unless later changed by the Participant.

 

c)         A Participant may change investment requests for future amounts of Deferred Compensation an unlimited number of times.

 

d)         A change in investment request shall be made to the Plan's Recordkeeper by telephone notice or use of internet on-line access programs. To the extent allowed by law, the Recordkeeper shall make a Participant financially whole in situations in which a Participant's transaction request was received timely and in good order, but, due to an error or omission by the Recordkeeper, was not executed in compliance with the Participant's instructions.

 

e)         A Participant may change an investment request governing amounts previously deferred.  However, after June 1, 1994, amounts previously deferred into the stable value option shall not be exchanged directly or indirectly into a money market fund.  Any exchange from the stable value option must first be exchanged into one of the other investment options for a period of 90 days.

 

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