§ 27008. Assessment of Interest on Late Contributions -- Cash Balance Benefit Program.
5 CA ADC § 27008Barclays Official California Code of Regulations
5 CCR § 27008
§ 27008. Assessment of Interest on Late Contributions -- Cash Balance Benefit Program.
(d) 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, contributions for the substitute or part-time position that are otherwise late shall not be subject to the interest assessed on late contributions provided for in this section if all of the following are true:
(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 contributions 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 late thereafter.
(2) Any period of time that directly results from the operation of a state or federal statute or regulation which requires a retroactive change in the creditable compensation paid to a participant for prior service, if that retroactive change results in a change in the amount of contributions due for that period of time. The contributions 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 late thereafter.
Credits
Note: Authority cited: California Constitution, Article XVI, Section 17; and Sections 22207, 22213, 22214, 22250 and 22305, Education Code. Reference: Section 26303, 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).
This database is current through 5/10/24 Register 2024, No. 19.
Cal. Admin. Code tit. 5, § 27008, 5 CA ADC § 27008
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