HB 277: "An Act relating to payment of retirement benefits for subsequently reemployed retired members of the teachers' retirement system."
00HOUSE BILL NO. 277 01 "An Act relating to payment of retirement benefits for subsequently reemployed 02 retired members of the teachers' retirement system." 03 BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF ALASKA: 04 * Section 1. AS 14.25.043 is amended to read: 05 Sec. 14.25.043. Reemployment of retired members. If a retired member 06 again becomes an active member, benefit payments shall continue to be based on the 07 member's accrued credited service and the member's average base salary in effect 08 before [MAY NOT BE MADE DURING] the period of reemployment. [THE 09 RETIREMENT BENEFIT MUST BE SUSPENDED FOR THE ENTIRE SCHOOL 10 YEAR IF THE TEACHER IS REEMPLOYED AS AN ACTIVE TEACHER FOR A 11 PERIOD EQUIVALENT TO A YEAR OF SERVICE.] During the period of 12 reemployment, deductions from the member's salary will be made in accordance with 13 AS 14.25.050. Upon subsequent retirement, the retired member is entitled to receive 14 an additional benefit based on the credited service and the average base salary during
01 the period of reemployment in accordance with AS 14.25.110. 02 * Sec. 2. The uncodified law of the State of Alaska is amended by adding a new section 03 to read: 04 APPLICABILITY. The amendment to AS 14.25.043 made by sec. 1 of this Act 05 applies to periods of reemployment that occur on or after the effective date of this Act.