Section 26303 - Transmittal of contributions by employers; delinquent payments(a) Employers shall transmit to the plan the employee contributions and employer contributions with respect to the Cash Balance Benefit Program for salary paid to each participant during the pay period no later than 10 working days following the last day of the pay period in which the salary was earned.(b) Payments shall be delinquent on the 11th working day thereafter, and interest shall begin to accrue at the regular interest rate from that day until payment for the contributions and interest is received in full by the system. The board, in accordance with regulations, shall collect interest for late payment from the employer under this subdivision.Amended by Stats 2011 ch 703 (SB 349),s 34, eff. 1/1/2012.Amended by Stats 2009 ch 249 (AB 654),s 10, eff. 1/1/2010.EFFECTIVE 1/1/2000. Amended October 10, 1999 (Bill Number: SB 1074) (Chapter 939).