Ariz. Admin. Code § R2-8-707 - Submission of Payment
A. Within
90 days from the date on the statement invoice identified in
R2-8-706(E),
the Employer shall pay to the ASRS the amount due to be paid by the Employer.
An Employer who makes payment under A.R.S. §
38-738(B)(3)
is not liable for additional interest that
may accrue as a result of a member's failure to remit payment required by
A.R.S. §
38-738(B)(1).
If the ASRS does not receive full payment of the Employer's amount due within
90 days after the ASRS notifies the Employer of the amount due, the full amount
due will accrue interest as provided in A.R.S. §
38-738. The
ASRS may collect the unpaid balance plus interest pursuant to A.R.S. §
38-735(C).
B. The member shall make payment to the ASRS
pursuant to A.R.S. §
38-738 by
the due date specified on the member's invoice identified in
R2-8-706(E).
C. If the ASRS does not receive full payment
of the member's amount due by the due date specified on the member's invoice
identified in
R2-8-706(E),
the full amount due will accrue interest, as provided in A.R.S. §
38-738.
D. A member does not receive service credit
or credit for salary until both the Employer and member portions of the
contributions and all interest has been paid pursuant to A.R.S. §
38-738.
Notes
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