SB 126: "An Act relating to the retirement incentive program for state employees; and providing for an effective date."
00SENATE BILL NO. 126 01 "An Act relating to the retirement incentive program for state employees; and 02 providing for an effective date." 03 BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF ALASKA: 04 * Section 1. Section 23(a), ch. 4, FSSLA 1996, is amended to read: 05 (a) A state agency may adopt, and file with the commissioner of administration 06 for approval, a proposed discretionary retirement incentive plan for its employees as 07 part of a permanent reduction in the personal services costs in that section of the state 08 agency. In addition, a state agency shall permit eligible employees to apply to the 09 retirement incentive program as provided in (f) of this section during fixed 10 windows, from July 1, 1997, through August 31, 1997, from May 1, 1998, through 11 June 30, 1998, and from May 1, 1999, through June 30, 1999. 12 * Sec. 2. Section 23(b), ch. 4, FSSLA 1996, is amended to read: 13 (b) Upon the request of a state agency, the commissioner of administration 14 shall establish one or more periods during which the employees of that state agency
01 who are eligible under sec. 22(b) of this Act to participate in a retirement incentive 02 plan may apply to the commissioner of administration to participate in the state 03 agency's approved discretionary plan. The periods shall begin no earlier than June 30, 04 1996, and end no later than June 30, 1999. The periods shall be no less than 30 days 05 and no more than 60 days in duration, and may not begin less than 30 days after their 06 establishment. A state agency is not required to request an application period for a 07 discretionary plan and may request more than one application period. 08 * Sec. 3. Section 23, ch. 4, FSSLA 1996, is amended by adding a new subsection to read: 09 (f) Beginning on the effective date of this Act, a classified state employee who 10 meets the eligibility requirements of sec. 22(b) of this Act and (c) and (d) of this 11 section and who will be qualified for a normal retirement under AS 14.25.110(a) or 12 AS 39.35.370(a) after application of the retirement incentive under sec. 22(f) of this 13 Act may only apply to participate in the retirement incentive program during the first 14 application period that opens immediately after, or is open when, the classified 15 employee reaches the age or earns the credited service to so qualify. A state agency 16 may not decline to include a classified employee qualified to participate in the 17 retirement incentive program under this subsection in the state's retirement incentive 18 plan. 19 * Sec. 4. This Act takes effect immediately under AS 01.10.070(c).