4.22 Interest Charges on Unpaid Contributions and Adjustments

Interest is charged on unpaid contributions and adjustments as follows:

  1. Interest is charged on monthly deposits of contributions from the 20th until the date payment is received.

  2. Interest charges begin on adjustments 30 days after the date of the charge advice and continue until the date the payment is received.

  3. Interest is charged at a rate of 1% per month.

Interest charges for Accelerated Payments begin after 90 days. After 90 days, employers will be charged interest based on the assumed rate of return. See 7.20 E. Accelerated Payment.