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Title 2 . Administration
Chapter 35 . Public Information
Section 805. Payment of remaining indebtedness at retirement

2 AAC 35.805. Payment of remaining indebtedness at retirement

An employee with an indebtedness to the system who wishes to pay off the balance of that indebtedness, including accrued interest, must pay off the balance before the employee's retirement benefit begins. Once the employee is appointed to retirement, the application of a lifetime actuarial reduction to the employee's benefits based upon any indebtedness balance known to exist before the appointment may not be changed. Any indebtedness payments received after the employee has been appointed to a retirement benefit will be refunded to the employee.

History: Eff. 2/13/2004, Register 172

Authority: AS 39.35.040

AS 39.35.042

AS 39.35.330

AS 39.35.340

AS 39.35.342

AS 39.35.345

AS 39.35.350

AS 39.35.360

Editor's note: Even though the adoption of 2 AAC 35.805 was effective 2/13/2004, it was not published until Register 172, January 2005.

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Last modified 7/05/2006