CA AB2052

Requires employers to pay all contributions to the State Teachers' Retirement System (STRS) using electronic funds transfer through an automated clearinghouse, effective upon authorization by the Teachers' Retirement Board.

Defines "automated clearinghouse" as federal reserve banks or organizations established with the National Automated Clearing House Association that facilitate electronic fund transfers between banks or bank accounts.

Permits employers unable to comply with electronic payment requirements for good cause to apply to the Teachers' Retirement Board for a waiver allowing alternate payment methods.

Applies this electronic payment requirement to both the Defined Benefit Program and the Cash Balance Benefit Program within the State Teachers' Retirement Plan.