CSHB 277(FIN): "An Act relating to payment of retirement benefits for certain subsequently reemployed retired members of the teachers' retirement system; and providing for an effective date."
00CS FOR HOUSE BILL NO. 277(FIN) 01 "An Act relating to payment of retirement benefits for certain subsequently 02 reemployed retired members of the teachers' retirement system; and providing for 03 an effective date." 04 BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF ALASKA: 05 * Section 1. AS 14.25.043 is amended to read: 06 Sec. 14.25.043. Reemployment of retired members. Except as provided in 07 (b) of this section, if [IF] a retired member again becomes an active member, benefit 08 payments may not be made during the period of reemployment. The retirement benefit 09 must be suspended for the entire school year if the teacher is reemployed as an active 10 teacher for a period equivalent to a year of service. During the period of 11 reemployment, deductions from the member's salary will be made in accordance with 12 AS 14.25.050. Upon subsequent retirement, the retired member is entitled to receive 13 an additional benefit based on the credited service and the average base salary during 14 the period of reemployment in accordance with AS 14.25.110.
01 * Sec. 2. AS 14.25.043(a) is amended to read: 02 (a) If [EXCEPT AS PROVIDED IN (b) OF THIS SECTION, IF] a retired 03 member again becomes an active member, benefit payments may not be made during 04 the period of reemployment. The retirement benefit must be suspended for the entire 05 school year if the teacher is reemployed as an active teacher for a period equivalent 06 to a year of service. During the period of reemployment, deductions from the 07 member's salary will be made in accordance with AS 14.25.050. Upon subsequent 08 retirement, the retired member is entitled to receive an additional benefit based on the 09 credited service and the average base salary during the period of reemployment in 10 accordance with AS 14.25.110. 11 * Sec. 3. AS 14.25.043 is amended by adding a new subsection to read: 12 (b) A school district or regional educational attendance area that has or 13 anticipates having a shortage of teachers qualified to teach in a particular discipline or 14 specialty may, by resolution, adopt a policy that permits the employment of retired 15 teachers who are qualified to teach in the discipline or specialty in accordance with 16 this subsection. The policy must describe the circumstances that constitute a shortage. 17 If a shortage of teachers exists in the district or attendance area as described in the 18 policy, the district or attendance area shall notify the administrator that it is hiring 19 retired teachers under this subsection. Retired teachers reemployed under a policy 20 adopted in accordance with this subsection shall continue to receive benefit payments 21 under this chapter during the period of reemployment. The payments shall be based 22 on the member's accrued credited service and the member's average base salary in 23 effect before the period of reemployment. During the period of reemployment, 24 deductions from the member's salary shall be made in accordance with AS 14.25.050. 25 Upon subsequent retirement, the retired member is entitled to receive an additional 26 benefit based on the credited service and the average base salary during the period of 27 reemployment in accordance with AS 14.25.110. 28 * Sec. 4. SUNSET. AS 14.25.043(b) is repealed July 1, 2003. 29 * Sec. 5. The uncodified law of the State of Alaska is amended by adding a new section 30 to read: 31 REPORT TO LEGISLATURE. Beginning in 2001 and ending in 2004, the
01 administrator of the teachers' retirement system shall report to the legislature by the 30th day 02 of the regular legislative session concerning the effect of this Act on the retirement system. 03 * Sec. 6. The uncodified law of the State of Alaska is amended by adding a new section 04 to read: 05 EFFECT OF SUNSET ON EXISTING TEACHER CONTRACTS. Notwithstanding 06 the repeal of AS 14.25.043(b) made by sec. 4 of this Act, a retired teacher who is employed 07 under a contract on June 30, 2003, may continue to receive benefits and make deductions as 08 though AS 14.25.043(b) were not repealed for the duration of the teacher's contract of 09 employment then in effect. 10 * Sec. 7. Section 2 of this Act takes effect July 1, 2003.