- Alaska Statutes.
- Title 39. Public Officers and Employees
- Chapter 35. Public Employees' Retirement System of Alaska
- Section 131. Membership in Teachers' and Public Employees' Retirement Systems.
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. Termination of Participation. [Repealed, Sec. 55 Ch 128 SLA 1977].
next: Section 140
. Re-Employment of Former Employees. [Repealed, Sec. 55 Ch 128 SLA 1977].
AS 39.35.131. Membership in Teachers' and Public Employees' Retirement Systems.
- (a) 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 teachers' retirement plan under AS 14.25.009 - 14.25.220 shall receive credited service under each plan for half-time
employment. However, the amount of credited service a person receives under the 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
teachers' retirement plan, to equal one year of credited service.
- (b) A person who was employed at least half-time in a position in the teachers' retirement plan under AS 14.25.009 - 14.25.220 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.
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