§ 24618 Contribution Overpayment Adjustments

Education Code·California

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Key Takeaways

•If the government pays too much or too little into a retirement fund, they can fix it by adjusting the fund.
•Small mistakes can be fixed automatically, but big ones need special approval.
•The retirement fund gets updated to match the correct amount.

Example

The government accidentally pays $100 extra into a teacher's retirement fund.

The government will take back the extra $100 from the retirement fund to fix the mistake.

AI-generated — May contain errors. Not legal advice. Always verify source.

Official Source

View on CA.gov

§ 24618 Contribution Overpayment Adjustments

Losses or gains resulting from overpayment or underpayment of contributions or other amounts under this part within the limits set by the Department of General Services for automatic writeoff, and losses or gains in greater amounts specifically approved for writeoffs by the Department of General Services, shall be debited or credited, as the case may be, to the appropriate reserve in the retirement fund. (Amended by Stats. 2016, Ch. 31, Sec. 20. (SB 836) Effective June 27, 2016.)

Last verified: January 23, 2026

Key Terms

overpayment underpayment Department of General Services retirement fund

References

Official text at leginfo.legislature.ca.gov
California Legislature. Education Code. Section 24618.

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Key Takeaways

Example

Key Terms

Related Statutes

References