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The State of Illinois Deferred Compensation Plan is a supplemental retirement program for State employees. Contributions to the Plan can be made on a pre-tax or Roth basis through salary deferrals. The combined pre-tax and Roth contributions cannot exceed the limit set by the IRS.
The State of Illinois Deferred Compensation Plan (“Plan”) is an optional 457(b) retirement plan open to all State employees. The payroll deferrals, together with any earnings, accumulate tax-deferred until the employee terminates service, dies, or incurs unforeseeable financial hardship.
The State Deferred Compensation 457 Plan (also known as the 457 Plan or Deferred Comp) is an optional investment plan available to all employees receiving compensation from the University. Participants may choose to invest pre-tax and/or Roth (after-tax) money in this Plan.
What are Special 457(b) catch-up contributions, and how do I know if I qualify? If you do not defer up to the IRS contribution limit in any given year you are eligible, this special catch- up provision allows you the opportunity to contribute some or all of these unused or underutilized
The home of your State of Illinois Deferred Compensation retirement account. Log in to check the balance of your 457 account, view your estimated monthly retirement income, and more.
19 Απρ 2023 · These include section 457(b) programs, commonly called 457 deferred compensation programs. Deferred compensation programs allow eligible employees to save and invest before-tax and Roth (after-tax) dollars through voluntary paycheck contributions, supplementing any exising retirement/pension benefits.
causes the Plan to constitute an eligible deferred compensation plan under the provisions of (i) Code Section 457(b), (ii) be a “governmental” plan as defined in ERISA Section 3(32) and Code Section 414(d), and (iii) comply with all applicable requirements of the Code shall prevail over any different interpretation.
