Ill. Admin. Code tit. 80, § 2190.420 – Crediting to Accounts | Midpage
§ 2190.420
Ill. Admin. Code tit. 80, § 2190.420
Crediting to Accounts
AUTHORITY: Implementing section 132(f) of the Internal Revenue Code (926 USC 132(f)), Section 405-110 of the Civil Administrative Code of Illinois [20 ILCS 405/405-110], Section 30c of the State Finance Act [30 ILCS 105/30c], and Sections 3 and 9 of the State Employees Group Insurance Act of 1971 [5 ILCS 375/3 and 9] and authorized by Section 5-625 of the Civil Administrative Code of Illinois [20 ILCS 5/5-625].DEPARTMENT OF CENTRAL MANAGEMENT SERVICES
a) There shall be credited to each account, as of each pay period, an amount equal to the reduction made in the participant's compensation in accordance with the participant's election.
b) All amounts credited shall be the property of the State until paid out pursuant to Subpart G of this Part.