The State of Illinois Employees' Deferred Compensation Plan is a supplemental tax-defer="defer"red retirement plan for state employees. In 2011, employees can defer="defer" up to $16,500 and employees over age 50 can defer="defer" $22,000.
In 2012, employees can defer="defer" up to $17,000 and employees over age 50 can defer="defer" $22,500. The defer="defer"rals, together with any earnings, accumulate tax-defer="defer"red 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.
Enroll Now and Build for Your Financial Future. Contact your Agency Liaison or the Deferred Compensation Office at the address and numbers below.
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.
Download a Deferred Compensation form or newsletter now using Acrobat Reader.
Review 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. You can now contact T. Rowe Price at 888-457-5770 and request a distribution over the phone. Download a distribution booklet [PDF, 33k], W-4P Withholding Allowance Certificate [PDF, 36k], or the Direct Deposit Form [PDF, 7k]using Acrobat Reader.
CMS Deferred Compensation Office
P.O. Box 19208
201 E. Madison, Suite 1C
Springfield, Illinois 62794-9208
(217) 782-7006 (Voice)
(800) 442-1300 (Toll Free)
(217) 785-3979 (TDD)