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(b) A member who elects to make a supplemental contribution under AS 14.25.055 shall continue that contribution until the member executes a waiver in the form prescribed by the administrator, the member is appointed to retirement, or the member terminates employment with an employer. Execution of a waiver of supplemental contribution forfeits all previously accrued entitlements under AS 14.25.162 and AS 14.25.164 .
(d) If a retired member who elected to make supplemental contributions under AS 14.25.055 returns to employment with an employer, supplemental contributions are required if the member wishes additional coverage under AS 14.25.162 and AS 14.25.164 for the period of reemployment. If the member does not desire to make supplemental contributions, then the member shall execute a waiver and file it with the administrator. Execution of a waiver does not forfeit the member's entitlements earned during the period of prior employment once the member is reappointed to retirement. If a member, before retirement, did not qualify for a supplemental benefit, and does not execute a waiver during a period of reemployment, and then accrues enough service during reemployment, such that, when added to all previous service coverage by supplemental contributions, the member has enough time to qualify for supplemental benefits, then the supplemental benefit is payable and covers all periods of employment.
(e) As used in AS 14.25.055 "entry into participation in the system" means initial membership under the teachers' retirement system or reemployment with an employer. There must be a 12-month break in membership coverage under the teachers' retirement system before a member is eligible to participate on the basis of reemployment.
History: In effect before 10/21/83, Register 93
Authority: AS 14.25.035
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Last modified 7/05/2006