(a)Monthly Report of Salaries and Contributions. For the purpose of ascertaining the amount of contributions payable under this chapter and chapters 34-36 of this title, it shall be the duty of the employer on or before the tenth day of each month to transmit to the state treasurer, in the manner prescribed by the state treasurer, the gross salary and amount of contributions deducted, if any, from the compensation of employees and contributions of the employer payable under this chapter and chapters 34-36 of this title during the preceding calendar month. The board of trustees is authorized to promulgate substantive and procedural rules requiring that all or a portion of the information described in § 8-35-105(a) is provided in such manner.
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Terms Used In Tennessee Code 8-37-502

  • board: means the board provided for in part 3 of this chapter. See Tennessee Code 8-34-101
  • Employer: means :
    (A) The state or any department, commission, institution, board or agency of the state government by which a member is paid, with respect to members in its employ. See Tennessee Code 8-34-101
  • Liabilities: The aggregate of all debts and other legal obligations of a particular person or legal entity.
  • Month: means a calendar month. See Tennessee Code 1-3-105
  • Retirement: means withdrawal from membership with a retirement allowance granted under chapters 34-37 of this title. See Tennessee Code 8-34-101
  • State: means the state of Tennessee. See Tennessee Code 8-34-101
  • Trust account: A general term that covers all types of accounts in a trust department, such as estates, guardianships, and agencies. Source: OCC
(b) At the time of transmitting the information required pursuant to subsection (a), the employer shall remit to the state treasurer therewith the amount of contributions due under this chapter and chapters 34-36 of this title; provided, however, that employers shall remit payments due to the stabilization reserve trust account within five (5) business days after receipt of an invoice from the retirement system. Failure to so remit such contributions or failure to remit such payments due to the stabilization reserve trust account shall cause them to become delinquent and liabilities to the employer.
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