Ill. Admin. Code tit. 80 § 2700.910

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

Section 2700.910 - Termination of Plan

a) The Board shall have the authority to terminate this Plan, or to substitute a new Plan.

b) Upon termination of the Plan, each Participant shall be deemed to have withdrawn from the Plan as of the date of such termination, and the Participant's full Compensation will be restored to a nondeferred basis.

c) The Plan will otherwise continue in effect until all Deferred Compensation Accounts have been distributed in accordance with the Plan.

d) Changes in the Plan, termination of the Plan, or substitution of a new Plan shall be made in accordance with the Illinois Administrative Procedures Act (Ill. Rev. Stat. 1981, ch. 127, pars. 1001 et seq.).

Ill. Admin. Code tit. 80, § 2700.910