Cal. Educ. Code § 26603
Employee and Employer Accounts
Redline — January 1, 2011 → current.View current text →
Current — January 1, 2017
As of January 1, 2011
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.
(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.
Official source: California Legislative Information. Reproduced from public-domain California statutes; confirm against the official source for the current text. Not legal advice.