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(a) If a retired member of EPORS returns to employment that is included in the definition of "creditable service" under AS 39.37.150 , retirement payments will not be made during the time of reemployment. During the time of reemployment the member shall contribute to EPORS under AS 39.37.070 .
(b) Upon retirement by a formerly retired member of EPORS who returned to EPORS employment, payment of the original EPORS retirement benefit will resume, effective the first day of the month following the termination of reemployment. The computation and amount of the original benefit will not be altered. The retiree is entitled to an additional and separate benefit based on the creditable service earned during the period of reemployment and the benefit formula as it exists at the time of termination under AS 39.37.050 . The retiree is entitled to the salary option under AS 39.37.050 (a) for the new benefit only.
History: In effect before 1/8/85, Register 93
Authority: AS 39.37.050
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Last modified 7/05/2006