- Alaska Statutes.
- Title 39. Public Officers and Employees
- Chapter 35. Public Employees' Retirement System of Alaska
- Section 800. Investment of Individual Accounts.
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. Distribution Election at Termination.
AS 39.35.800. Investment of Individual Accounts.
- (a) The board shall provide a range of investment options and permit a participant to exercise investment
control over the participant's assets in the member's individual account as provided in this section. If a participant exercises control
over the assets in the individual account, the participant is not considered a fiduciary for any reason on the basis of exercising that
- (b) A participant may direct investment of plan funds held in an account among available investment funds in
accordance with rules established by the board.
- (c) A participant may elect to change or transfer all or a portion of the participant's existing account balance
among available investment funds not more often than once each day in accordance with the rules established by the administrator. Only
the last election received by the administrator before the transmittal of contributions to the trust fund for allocation to the
individual account shall be used to direct the investment of the contributions received.
- (d) Except to the extent clearly set out in the terms of the investment plans offered by the employer to the
employee, the employer is not liable to the participant for investment losses if the prudent investment standard has been met.
- (e) The employer, administrator, state, board, or a person or entity who is otherwise a fiduciary is not liable
by reason for any participant's investment loss that results from the participant's directing the investment of plan assets allocated to
the participant's account.
- (f) To the extent that a member's individual account has been divided as provided in a qualified domestic
relations order between participants, each participant shall be treated as the holder of a separate individual account for purposes of
investment yields, decisions, transfers, and time limitations imposed by this section.
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