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Earlier editions: 2020-112018-11

TITLE 2. GOVERNMENT OF THE STATE OF CALIFORNIA 8000-22980›DIVISION 5. PERSONNEL 18000-22980›PART 3. PUBLIC EMPLOYEES' RETIREMENT SYSTEM 20000-21716›CHAPTER 5. Contract Members of System 20460-20593›ARTICLE 3. Contracting Agency Financial Obligations 20530-20538

§ 20537

California Government Code · 2026-10 edition · updated 2026-10-04 · California

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 simple annual rate of 10 percent. The interest shall be deemed interest earnings for the year in which the late payment is received.

(Amended by Stats. 2023, Ch. 159, Sec. 3. (SB 885) Effective January 1, 2024.)

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California Government Code

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