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SCS CSHB 230(L&C): "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."

00SENATE CS FOR CS FOR HOUSE BILL NO. 230(L&C) 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. An employee who has converted credited service to peace officer 12 service under this subsection shall be treated as a peace officer for purposes of this 13 chapter. When the member claims this credited service as peace officer service, an 14 indebtedness of the member to the system shall be established. The indebtedness is

01 equal to the full actuarial cost of the conversion of the credited service to treatment 02 as peace officer service. Any outstanding indebtedness that exists at the time the 03 member is appointed to retirement will require an actuarial adjustment to the benefits 04 payable based upon the conversion of the credited service. 05 * Sec. 2. This Act takes effect immediately under AS 01.10.070(c).