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- Alaska Statutes.
- Title 14. Education, Libraries, and Museums
- Chapter 25. Teachers' Retirement
- Section 40. Membership; Credited Service.
previous: Section 15
. - 14.25.037l Administrator; Powers of teh Administrator; Regulations; Duties of the Administrator; Teacher's Retirement Board; Hearings. [Repealed, Sec. 132 Ch 9 FSSLA 2005].
next: Section 43
. Reemployment of Retired Members.
AS 14.25.040. Membership; Credited Service.
- (a) Unless a teacher or member participates in a university
retirement program under AS 14.40.661
- 14.40.799, has filed an election under AS 14.25.043 (b), or has elected under AS 14.25.540 to participate in the plan established in AS 14.25.310 - 14.25.590, a teacher or member contracting for service
with a participating employer is subject to AS 14.25.009 - 14.25.220.
- (b) A state legislator who was an active member of this plan under other sections of AS 14.25.009 - 14.25.220 within the 12 months
immediately preceding election to office may elect to be an active member of this plan for as long as the state
legislator serves continuously as a state legislator subject to the requirements of (c) of this section, if, within 90
days after taking the oath of office,
- (1) the state legislator directs the employer in writing to
- (A) pay into this plan the employer contributions required for a member under AS 14.25.009 - 14.25.220; and
- (B) deduct from the state legislator's salary and pay into this plan
- (i) the employee contributions required for a member under AS 14.25.009 - 14.25.220; and
- (ii) an amount equal to the difference between the total employer and state contributions required for a member under AS 14.25.009 - 14.25.220 and the employer contributions which would be required under the public employees' retirement system (AS 39.35) if the legislator were covered under that system; and
- (2) notice is given the administrator in writing.
- (c) A state legislator is not entitled to elect membership under (b) of this section if the state legislator is covered
for the same period of service under the public employees' retirement system (AS 39.35). An election of membership under (b) of this section is
retroactive to the date the state legislator took the oath of office. A state legislator may not receive membership
credit under (b) of this section for legislative service performed before the legislative session during which the
state legislator elected membership under (b) of this section. In order to continue in membership service under (b) of
this section, the state legislator must earn at least 0.3 years of membership service under other sections of AS 14.25.009 - 14.25.220 during each five-year period. A state legislator may not receive membership credit under AS 14.25.009 - 14.25.220 for legislative service on or after the date the legislator commits a criminal offense from which a pension forfeiture under AS 37.10.310 results.
- (d) A person who is employed at least half-time in the plan during the same period that the person is employed at least
half-time in a position in the public employees' retirement plan under AS 39.35.095 - 39.35.680 shall receive credited service under each plan for half-time
employment. However, the amount of credited service a person receives under the public employees' retirement plan
during a school year may not exceed the amount necessary, when added to the amount of credited service earned during
the school year under the plan, to equal one year of credited service. A person who was employed at least half-time
in a position in the public employees' retirement plan under AS 39.35.095 - 39.35.680 in the same period that the person was employed at least
half-time in a position in this plan may claim credited service in both plans for employment before May 31, 1989.
To obtain this credited service, the person shall claim the service and verify the period of half-time employment. When
eligibility for half-time service credit has been established, an indebtedness shall be determined to the retirement
plan in which the person did not participate. The amount of the indebtedness is the full actuarial cost of providing
benefits for the credited service claimed. Interest as prescribed by regulation accrues on that indebtedness beginning
on the later of July 1, 1989, or the date on which the member is first eligible to claim the service. Any outstanding
indebtedness existing at the time the person retires will require an actuarial adjustment to the benefits payable based
on that service.
- (e) A teacher who is assaulted while on the job, who files for benefits under AS 23.30, and who, as a result of a physical injury from the assault,
is placed on leave without pay, whether or not the teacher is receiving benefits under AS 23.30 for the injury, is entitled to accrue credited service while
the teacher, because of the injury, is on leave-without-pay status or is receiving workers' compensation benefits under
AS 23.30. Entitlement to earn credited service under this
subsection ends when the teacher is eligible to receive benefits under AS 14.25.110
(a) or 14.25.130(a).
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