TITLE 80: PUBLIC OFFICIALS AND EMPLOYEES
SUBTITLE H: DEFERRED COMPENSATION CHAPTER I: ILLINOIS STATE BOARD OF INVESTMENT PART 2700 STATE (OF ILLINOIS) EMPLOYEES' DEFERRED COMPENSATION PLAN SECTION 2700.850 DOMESTIC RELATIONS ORDERS
Section 2700.850 Domestic Relations Orders
a) Notwithstanding Section 2700.800 of this Part, if a judgment, decree or order (including approval of a property settlement agreement) that relates to the provision of child support, alimony payments, or the marital property rights of a spouse or former spouse, child, or other dependent of a Participant is made pursuant to the domestic relations law of the state (domestic relations order), then the amount of the Participant's Account Balance shall be paid in the manner and to the person or persons so directed in the domestic relations order.
b) Payment under a judgment, decree or order shall be made without regard to whether the Participant is eligible for a distribution of benefits under the Plan.
c) The Department shall establish reasonable procedures for determining the status of any decree or order and for effectuating distribution pursuant to the domestic relations order.
(Source: Added at 30 Ill. Reg. 8408, effective April 21, 2006) |