Ill. Admin. Code tit. 80 § 2700.650

Current through Register Vol. 48, No. 43, October 25, 2024

Section 2700.650 - Participant Statements

a) Each Participant shall be provided quarterly with an accounting of his or her Deferred Compensation Account, including, but not limited to, the amount deferred and any amounts credited or debited up to the quarter end and a separate accounting showing amounts credited or debited up to the quarter end for a Participant's outstanding Loan under Section 2700.700.

b) The accounting shall be made not later than 60 days after all deferrals for the quarter have been invested.

c) Participants are responsible for notifying the Department in writing of any investment or other error within 14 days after the receipt of any statement.

d) The liability of the Plan to the Participants for administrative errors shall not exceed the amount necessary to correct the error. Errors under $5.00 will not be corrected.

Ill. Admin. Code tit. 80, § 2700.650

Amended at 36 Ill. Reg. 17518, effective January 1, 2013