Md. Code Regs. 22.04.01.03

Current through Register Vol. 51, No. 24, December 2, 2024

Section 22.04.01.03 - Electronic Payment of Member Contributions

A. This regulation applies only to a participating employer that:

(1) Is a local employer;

(2) Is a participating governmental unit; or

(3) Does not pay its employees through the Central Payroll Bureau of the Office of the State Comptroller.

B. Except for a participating employer that has been granted a waiver in accordance with Regulation .04 of this chapter, each participating employer shall designate an authorized account at a financial institution for the purpose of making payment of all required member contributions via ACH Debit.

C. Except as provided in §D of this regulation, as each payroll is paid and upon final submission of the supporting payroll data in the manner and format required by the Retirement Agency, the participating employer shall pay the amounts provided in Regulation .02A(10) of this chapter via an ACH Debit.

D. Payment via ACH Credit.

(1) This section applies only to a participating employer that has been granted a waiver in accordance with Regulation .04 of this chapter.

(2) As each payroll is paid, and immediately following final submission of the supporting payroll data in the manner and format required by the Retirement Agency, the participating employer shall pay the amounts provided in Regulation .02A(10) of this chapter via an ACH Credit.

E. A participating employer that does not pay the member contributions required by this regulation as each payroll is paid and in the manner prescribed by the Retirement Agency is liable for penalties and interest in accordance with State Personnel and Pensions Article, § 21-314(d), Annotated Code of Maryland.

Md. Code Regs. 22.04.01.03

Regulation .03 adopted effective 48:25 Md. R.1071-1098, eff. 12/13/2021