§2700.600. Deferred Compensation Accounts

a)         The State of Illinois shall establish a Deferred Compensation Account for each Participant that shall be the basis for any distributions payable to the Participant under Section 2700.730.

 

b)         Each Participant's Deferred Compensation Account shall be credited with the amount of any Compensation deferred and shall be further credited or debited, as applicable, with:

 

1)         any increase or decrease resulting from investments made by the State pursuant to Section 2700.670;

 

2)         any applicable expenses incurred by the State in maintaining and administering the Plan;

 

3)         any debits for the amount of any distribution;

 

4)         any credit for the initial value on the effective date of the Plan of any bookkeeping account maintained under the Prior Plans; and

 

5)         any adjustment resulting from amounts loaned, repaid or defaulted in respect of a Loan under Section 2700.770.

 

(Source:  Amended at 36 Ill. Reg. 17518, effective January 1, 2013)