Section 2700.110  Purpose of Plan

a)         The purpose of this Plan is to allow Employees to designate a portion of their Compensation to be withheld each month by the State of Illinois and invested at the discretion of and in a manner approved by the Board in accordance with section 457 of the Code until Severance of Employment, Unforeseeable Emergency or death of the Employee.

b)         Participation in this Plan shall not be construed to establish or create an employment contract between the Employee and the State of Illinois.

(Source:  Amended at 33 Ill. Reg. 13451, effective September 14, 2009)