CSHB 230(FIN): "An Act permitting certain dispatchers in police or fire departments or for the state troopers to convert their credited service under the public employees' retirement system to credited service as peace officers; and providing for an effective date."
00CS FOR HOUSE BILL NO. 230(FIN) 01 "An Act permitting certain dispatchers in police or fire departments or for the 02 state troopers to convert their credited service under the public employees' 03 retirement system to credited service as peace officers; and providing for an 04 effective date." 05 BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF ALASKA: 06 * Section 1. AS 39.35.370 is amended by adding a new subsection to read: 07 (g) When an employee who was employed as a dispatcher in a state trooper 08 office or in a police or fire department in the public employees' retirement system 09 applies for appointment to retirement, the employee may convert the credited service 10 for that position to credited service as a peace officer by claiming the service as peace 11 officer service. When the member claims this credited service as peace officer service, 12 an indebtedness of the member to the system shall be established. The indebtedness 13 is equal to the full actuarial cost of the conversion of the credited service to treatment 14 as peace officer service. Any outstanding indebtedness that exists at the time the
01 member is appointed to retirement will require an actuarial adjustment to the benefits 02 payable based upon the conversion of the credited service. 03 * Sec. 2. This Act takes effect immediately under AS 01.10.070(c).