§ 27004. Assessment of Penalties for Late Reports -- Cash Balance Benefit Program.
5 CA ADC § 27004Barclays Official California Code of Regulations
5 CCR § 27004
§ 27004. Assessment of Penalties for Late Reports -- Cash Balance Benefit Program.
(a) A report received 11 or more working days following the pay period in which the salary being reported was earned shall be subject to penalties based on the number of calendar days it is late, in an amount equal to the cumulative value of interest accruing on the sum of employer and employee contributions due for the late report compounded daily, based on the regular interest rate in effect that day, until the report is received.
(c) Those portions of a report that adjust contributions remitted in a prior report shall be aggregated and treated as a report adjusting incorrect contributions. The report shall be late if received after 5:00 p.m. Pacific Time on the 60th calendar day following discovery by the employer or notification by the system. The penalty for a late report adjusting incorrect contributions shall be the cumulative value of interest accruing on the sum of the absolute value of the change in employer and employee contributions for each employee on the late report compounded daily, based on the regular interest rate in effect that day, until the report is received.
(1) Notification by the system shall be on a form containing the following items of information and shall be delivered to the employer by mail or email: date the notification was mailed or emailed; fiscal year; participant Client ID; participant name; reporting source or unit; earnings; contribution amount; pay schedule date; pay period end date; and the business rule error number.
(1) The period of time beginning on the date an application for workers' compensation is filed with the Workers' Compensation Appeals Board until the date compensation is awarded, if the awarded compensation increases the amount of contributions due for that period of time. The portions of a report that are exempt under this subdivision shall be due 10 working days immediately following the pay period in which compensation is awarded and shall be subject to the penalties provided for in this section beginning on the 11th working day.
(2) Any period of time that directly results from the operation of a state or federal statute or regulation that requires a retroactive change in the creditable compensation paid to a member for prior service, if that retroactive change results in a change in the amount of contributions due for that period of time. The portions of a report that are exempt under this subdivision shall be due 10 working days immediately following the pay period in which the period of time expires and shall be subject to the penalties provided for in this section beginning on the 11th working day.
(h) For an employee employed as a substitute teacher, or on a part-time basis or a full-time basis with an additional part-time position, those portions of a report for the substitute or part-time position that are otherwise late shall not be subject to the penalty and interest assessed on a late report provided for in subdivision (a) of this section if all of the following are true:
Credits
Note: Authority cited: California Constitution, Article XVI, Section 17; and Sections 22207, 22213, 22214, 22250 and 22305, Education Code. Reference: Section 26301, Education Code.
History
1. New section filed 4-2-2012; operative 7-1-2012 pursuant to Government Code section 11343.4 (Register 2012, No. 14).
2. Amendment of subsection (c)(1) filed 8-26-2016; operative 10-1-2016 (Register 2016, No. 35).
This database is current through 5/10/24 Register 2024, No. 19.
Cal. Admin. Code tit. 5, § 27004, 5 CA ADC § 27004
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