49-11-603 - Participating employer to report and certify -- Time limit -- Penalties for failure to comply.
49-11-603. Participating employer to report and certify -- Time limit -- Penaltiesfor failure to comply.
(1) As soon as administratively possible, but in no event later than 60 days after the endof each pay period, a participating employer shall report and certify to the office:
(a) the eligibility for service credit accrual of:
(i) all current members;
(ii) each new member as they begin employment; and
(iii) any changes to eligibility for service credit accrual of each member.
(b) the compensation of each current member eligible for service credit; and
(c) other factors relating to the proper administration of this title as required by theexecutive director.
(2) Each participating employer shall submit the reports required under Subsection (1) ina format approved by the office.
(3) A participating employer shall be liable to the office for:
(a) any liabilities and expenses, including administrative expenses and the cost ofincreased benefits to members, resulting from the participating employer's failure to correctlyreport and certify records under this section;
(b) a penalty equal to $250 or 50% of the total contributions for the member for theperiod of the reporting error, whichever is greater; and
(c) attorney fees.
(4) The executive director may waive all or any part of the interest, penalties, expenses,and fees if the executive director finds there were extenuating circumstances surrounding theparticipating employer's failure to comply with this section.
(5) The executive director may estimate the length of service, compensation, or age ofany member, if that information is not contained in the records.
Amended by Chapter 252, 2008 General Session