ARTICLE 3. Contracting Agency Financial Obligations

Article 3 added by Stats. 1995, Ch. 379, Sec. 2.

§§ 20530–20538 · 10 sections

• § 20530 Any cash and securities to the credit of the local system and held on account of persons who become members of this system shall be transferred to this system,…
• § 20530.1 (a) An agency whose contract provides for participation of its employees in this system may request the employees’ service, with the contracting agency, prior…
• § 20531 (a) Shares of members in the funds of a local employer shall be credited to the respective individual accounts of the local agency members who have been…
• § 20532 The contracting agency shall make the contribution for its employees in this system, as recommended by the actuary and approved by the board and certified by…
• § 20533 The employer contribution rate adopted under this part, or because of amendments to the contract or to this part, apply to all compensation upon the basis of…
• § 20534 The board may make arrangements with any contracting agency for the payment of the prior service liability on terms that its financial condition will permit.
• § 20535 The expense of determining initially the approximate and actual contributions, with respect to its employees, shall be assessed against and paid by the public…
• § 20536 (a) The board may include each year in the contribution required of the contracting agency a reasonable amount, which may differ from agency to agency, to…
• § 20537 The board may charge interest on the amount of any payment due and unpaid by a contracting agency until payment is received. Interest shall be charged at a…
• § 20538 (a) All amounts due to the retirement system by a contracting agency under this part shall be paid through an electronic funds transfer method prescribed by…