Advertising with us can place you in front of thousands of visitors a day. Learn more!
- Alaska Statutes.
- Title 14. Education, Libraries, and Museums
- Chapter 25. Teachers' Retirement
- Section 143. Post Retirement Pension Adjustment.
previous: Section 142
. Cost-of-Living Allowance.
next: Section 145
. Interest On Individual Accounts.
AS 14.25.143. Post Retirement Pension Adjustment.
- (a) Once each year, the administrator shall increase benefit payments to eligible disabled members, to persons age 60 or
older receiving benefits under this plan in the preceding calendar year, and to persons who have received benefits
under this plan for at least eight years who are not otherwise eligible for an increase under this section.
- (b) The increase in benefit payments applies to total benefit payments except for the cost-of-living allowance under AS 14.25.142
. The amount of the increase is a percentage of the current benefit equal to
- (1) the lesser of 75 percent of the increase in the cost of living in the preceding calendar year or nine percent, for
recipients who on July 1 are at least 65 years old and for members receiving disability benefits; and
- (2) the lesser of 50 percent of the increase in the cost of living in the preceding calendar year or six percent, for
recipients who on July 1 are at least 60 but less than 65 years old or for recipients who on July 1 are less than 60
years old but who have received benefits from the plan for at least eight years.
- (c) If a recipient was not receiving benefits during the entire preceding calendar year, the increase in benefits under
this section shall be adjusted by multiplying it by the fraction whose numerator is the number of months for which
benefits were received in the preceding calendar year and whose denominator is 12.
- (d) If at the time of first receiving a retirement benefit, a member was receiving a disability benefit under this plan,
the administrator shall, at the time the member is appointed to retirement, increase the retirement benefit by a
percentage equal to the total cumulative percentage increase that has been applied to the member's disability benefit
under this section.
- (e) When computing a death benefit under AS 14.25.155
, 14.25.157, or 14.25.160 or a survivor's benefit under AS 14.25.162
, 14.25.164, or 14.25.167, adjustments granted to the deceased member or
survivor under this section shall be included in the computation.
- (f) An increase in benefit payments under this section is effective July 1 of each year and is based on the percentage
increase in the consumer price index for urban wage earners and clerical workers for Anchorage, Alaska during the
previous calendar year as determined by the United States Department of Labor, Bureau of Labor Statistics.
All content © 2008 by Touch
N' Go/Bright Solutions, Inc.
Note to HTML Version:
This version of the Alaska Statutes is current through December, 2007. The Alaska Statutes were automatically converted to HTML from a plain text format. Every effort has been made to ensure their accuracy, but this can not be guaranteed. If it is critical that the precise terms of the Alaska Statutes be known, it is recommended that more formal sources be consulted. For statutes adopted after the effective date of these statutes, see, Alaska State Legislature
If any errors are found, please e-mail Touch N' Go systems at E-mail. We
hope you find this information useful.