(a) All employee contributions shall be credited to employee accounts and all employer contributions shall be credited to employer accounts effective as of the day contributions are required to be transmitted to the plan pursuant to subdivision (a) of Section 26303.
(b) This section shall become operative on July 1, 2018.
(Repealed (in Sec. 41) and added by Stats. 2016, Ch. 218, Sec. 42. (SB 1352) Effective January 1, 2017. Section operative July 1, 2018, by its own provisions.)