Section 27010 - [Operative 4/1/2025] Interest accrues on the unpaid amount due(a) Balances not paid in full within 30 calendar days after the invoice date are subject to regular interest, pursuant to section 22162 of the Education Code, from the initial invoice date until the balance is paid in full.(b) Balances are paid in full when both of the following occur:(1) The employer has sufficient moneys on deposit in the Teachers' Retirement Fund to pay the invoice in full.(2) The employer informs CalSTRS which moneys on deposit will be applied to that invoice.(c) This section shall not apply if an assessment of penalties, interest or both is reversed.Cal. Code Regs. Tit. 5, § 27010
Note: Authority cited: California Constitution, Article XVI, Section 17; and Sections 22207, 22213, 22214, 22250 and 22305, Education Code. Reference: Sections 23002 and 23003, Education Code.
1. New section filed 12-18-2024; operative 4/1/2025 (Register 2024, No. 51).