Ala. Admin. Code r. 800-5-3-.04 - When Credited
Payroll deducted contributions shall be submitted to PEIRAF monthly by the employer in conjunction with the employer's submittal of contributions to the Employees' and Teachers' Retirement Systems. Direct lump sum payments may be made at any time. Payroll contributions shall be credited to the calendar year in which deducted. Direct lump sum payments shall be credited to the year in which such payments are received by PEIRAF. Lump sum payments received before April 15 of any year may be credited to the previous year upon written designation and request submitted to PEIRAF by the employee.
Author: William T. Stephens, General Counsel, RSA.
Notes
Statutory Authority: Code of Ala. 1975, ยง 36-27A-3.
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