AB 654 (Mendoza) – Penalties and Interest

Assembly Bill

As of July 1, 2010, modifies the definition of “regular interest” and clarifies the application of regular interest to the installments that employers make when paying for employee retirement incentives. Also establishes a basis for the consistent assessment of interest and penalties for late payment of contributions and late submission of reports.

  • Version: Chaptered (Chapter 249, Statutes of 2009)
  • Sponsor: CalSTRS
  • Location: Signed by Governor
  • Board Position: Sponsor

CalSTRS Analysis:

As amended 4/23/2009

As amended 6/1/2009

For an accessible version of any CalSTRS analysis on this page, contact ADACoordinator@CalSTRS.com.