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§ 27005. Late Contributions -- Defined Benefit Program.

5 CA ADC § 27005Barclays Official California Code of Regulations

Barclays California Code of Regulations
Title 5. Education
Division 3. Teachers' Retirement System
Chapter 1. Teachers' Retirement System
Article 15.5. Penalties and Interest for Late Remittances and Late and Unacceptable Reporting by Employers
5 CCR § 27005
§ 27005. Late Contributions -- Defined Benefit Program.
Currentness
In order to process contributions for any given day, the contributions must be received on or before 3:00 p.m. Pacific Time. Therefore,
(a) Contributions received after 3:00 p.m. Pacific Time shall be considered to have been received on the following working day.
(b) The portion of contributions due on the fifth working day that are not received by 3:00 p.m. Pacific Time on that fifth working day shall be considered to have been received on the sixth working day, and therefore are late.
(c) The remaining portion of contributions due on the 15th working day that are not received by 3:00 p.m. Pacific Time on that 15th working day shall be considered to have been received on the 16th working day, and therefore are late.

Credits

Note: Authority cited: California Constitution, Article XVI, Section 17; and Sections 22207, 22213, 22214, 22250 and 22305, Education Code. Reference: Section 23002, Education Code; and Section 4108, Commercial Code.
History
1. New section filed 4-2-2012; operative 7-1-2012 pursuant to Government Code section 11343.4 (Register 2012, No. 14).
This database is current through 5/10/24 Register 2024, No. 19.
Cal. Admin. Code tit. 5, § 27005, 5 CA ADC § 27005
End of Document