La. Admin. Code tit. 58 § XXV-1403

Current through Register Vol. 50, No. 12, December 20, 2024

Section XXV-1403 - Late Contributions

A. Interest may be charged for payments submitted after the tenth of the month.

B. Interest is calculated based on the system's actuarial valuation rate.

C. Payments more than 60 days late shall be reported to the board of trustees.

D. The board of trustees may certify delinquent amounts and request that the state treasurer deduct the certified amount from monies payable to the delinquent employer by any department or agency of the state.

E. The board of trustees may authorize the director to retain counsel to file suit for collection of certified delinquent amounts in a court of competent jurisdiction.

La. Admin. Code tit. 58, § XXV-1403

Promulgated by the Department of Treasury, Municipal Employees' Retirement System, LR 482372 (9/1/2022).

AUTHORITY NOTE: Promulgated in accordance with R.S. 11:1823.