Ill. Admin. Code tit. 74 § 722.510

Current through Register Vol. 48, No. 45, November 8, 2024

Section 722.510 - Allocation of Investment Earnings or Losses

Investment earnings in excess of the administrative expenses of the ABLE Program and all monies collected by the ABLE Program as penalties as a result of withdrawals that are not used to pay qualified disability expenses, after the payment of expenses:

a) will be credited or paid monthly to participants in the ABLE Program in a manner that reflects:

1) the differing amounts of their respective investments in the ABLE Program; and

2) the differing periods of time for which those amounts were in the custody of the ABLE Program; and

b) will be allocated among the ABLE Program's underlying investment portfolios in a manner determined by the Treasurer.

Ill. Admin. Code tit. 74, § 722.510

Adopted at 41 Ill. Reg. 7133, effective 6/7/2017.

Amended at 45 Ill. Reg. 4133, effective 3/12/2021