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What are the consequences to my school if I submit my payroll report or remit my payment late?

April 26, 2017consequences late payment payroll remit report School submit

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What are the consequences to my school if I submit my payroll report or remit my payment late?

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Your school may incur penalties (up to $2,000 per occurrence) for late contribution reporting and interest for late payment, in accordance with the State Teachers Retirement Board Rules.