- Alaska Statutes.
- Title 39. Public Officers and Employees
- Chapter 35. Public Employees' Retirement System of Alaska
- Section 750. Contributions by Employers.
previous: Section 740
. Employment Contributions Mandatory.
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. Rollover Contributions and Distributions.
AS 39.35.750. Contributions by Employers.
- (a) An employer shall contribute to each member's individual account an amount equal to five percent of the
member's compensation from July 1 to the following June 30.
- (b) An employer shall also contribute an amount equal to a percentage, as adopted by the board, of each member's
compensation from July 1 to the following June 30 to pay for retiree major medical insurance. This contribution shall be paid into the
Alaska retiree health care trust established by the commissioner of administration under AS 39.30.097 (b) and shall be accounted for in accordance with regulations
established by the commissioner.
- (c) Notwithstanding (b) of this section, the employer contribution for retiree major medical insurance for
fiscal year 2007 shall be 1.75 percent of each member's compensation from July 1 to the following June 30.
- (d) An employer shall also make contributions to the health reimbursement arrangement plan under AS 39.30.300 .
- (e) An employer shall make annual contributions to a trust account in the plan, applied as a percentage of each
member's compensation from July 1 to the following June 30, in an amount determined by the board to be actuarially required to fully
fund the cost of providing occupational disability and occupational death benefits under AS 39.35.700 - 39.35.990 and retirement benefits elected by disabled peace
officers and fire fighters under AS 39.35.890 (h)(2). The contribution required under this subsection for
peace officers and fire fighters and the contribution required under this subsection for other employees shall be separately calculated
based on the actuarially calculated costs for each group of employees.
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