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Legal Resources | Education Code |  EC  26603  

Contributions Credited to Account   

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Note: There are two sections of code at 26603. This section shall remain in effect only until January 1, 2019, and as of that date is repealed, unless a later enacted statute, that is enacted before January 1, 2019, deletes or extends that date.

(a) All employee contributions shall be credited to employee accounts and all employer contributions shall be credited to employer accounts as of the first working day following the date all contributions to fully satisfy the contribution report as submitted by the employer are received by the system.

(b) This section shall become inoperative on July 1, 2018, and, as of January 1, 2019, is repealed.

(Amended by Stats. 2016, Ch. 218, Sec. 41.)

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Note: There are two sections of code at 26603. This section shall become operative on July 1, 2018.

26603

(a) All employee contributions shall be credited to employee accounts and all employer contributions shall be credited to employer accounts effective as of the day contributions are required to be transmitted to the plan pursuant to subdivision (a) of Section 26303.

(b) This section shall become operative on July 1, 2018.

(Repealed (in Sec. 41) and added by Stats. 2016, Ch. 218, Sec. 42.)