Deferred Compensation Plan
The State of Illinois Employees' Deferred Compensation Plan is a supplemental tax-deferred retirement plan for state employees. In 2008, employees can defer up to $15,500 and employees over age 50 can defer $20,500. In 2009, employees can defer up to $16,500 and employees over age 50 can defer $22,000. The deferrals, together with any earnings, accumulate tax-deferred until the employee terminates service, dies, or incurs unforeseeable financial hardship. Once distributions begin, the distributed monies are fully taxable as ordinary income for federal tax purposes. The funds are never taxed by the State of Illinois.
To review your account or make investment changes, you can access your account via the T. Rowe Price web site.
Questions and answers to address the most common inquiries about the Deferred Compensation Plan.
Examine descriptions of the funds available in the Deferred Compensation Plan with an illustration of their share price stability versus their return potential.
Obtain the share prices for the mutual funds available in the Deferred Compensation Plan.
Determine the investment results for each of the funds and their appropriate benchmark indexes.
Obtain contacts for more information on enrolling in the Deferred Compensation Plan.
Download a Deferred Compensation form, newsletter, or liaison bulletin now using Acrobat Reader.
Reveiw a comprehensive, easy to understand guide for the Deferred Compensation Plan or the Summary Plan Description.
Whether retiring, moving to a job outside state government or leaving state service to pursue family or educational goals, you may decide how you want your Deferred Compensation account distributed. The Participant Distribution Method Form [PDF, 10k],W-4P Withholding Allowance Certificate [PDF, 36k], and the Direct Deposit Form [PDF, 7k] are also available. Download a distribution booklet, certificate, or a form now using Acrobat Reader.
Meet the Deferred Compensation staff.
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