HB 140(efd fld): "An Act relating to benefits for retired teachers or employees who participated in retirement incentive programs and are subsequently reemployed as a commissioner."
00 HOUSE BILL NO. 140(efd fld) 01 "An Act relating to benefits for retired teachers or employees who participated in 02 retirement incentive programs and are subsequently reemployed as a commissioner." 03 BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF ALASKA: 04 * Section 1. AS 14.25.043(a) is amended to read: 05 (a) If a retired member again becomes an active member, benefit payments 06 may not be made during the period of reemployment unless the teacher makes an 07 election under (b) or (e) of this section. The retirement benefit must be suspended for 08 the entire school year if the teacher is reemployed as an active teacher for a period 09 equivalent to a year of service. During the period of reemployment, the member is 10 subject to AS 14.25.050 and deductions from the member's salary will be made in 11 accordance with AS 14.25.050. 12 * Sec. 2. AS 14.25.043 is amended by adding new subsections to read: 13 (d) A member who retired under AS 14.25.110(a) and participated in a 14 retirement incentive program under ch. 26, SLA 1986; ch. 89, SLA 1989; ch. 65, SLA
01 1996; ch. 4, FSSLA 1996; or ch. 92, SLA 1997, who is subsequently reemployed as a 02 commissioner may become an active member without losing the incentive credit 03 provided under the applicable retirement incentive plan and is not subject to any 04 related reemployment indebtedness. 05 (e) A member who retired under AS 14.25.110(a) and participated in a 06 retirement incentive program under ch. 26, SLA 1986; ch. 89, SLA 1989; ch. 65, SLA 07 1996; ch. 4, FSSLA 1996; or ch. 92, SLA 1997, who is subsequently reemployed as a 08 commissioner and becomes an active member may, within 30 days of the date of 09 reemployment, elect to continue receiving benefit payments during the period of 10 reemployment by filing a waiver of coverage with the administrator on a form 11 provided by the administrator. An election under this subsection waives coverage for 12 the period of reemployment and is irrevocable during the period of reemployment. 13 Deductions from the member's salary may not be made under AS 14.25.050 during the 14 period of reemployment, and the member may not receive credited service for the 15 period of reemployment. A member who makes an election under this section does 16 not lose the incentive credit provided under the applicable retirement incentive plan 17 and is not subject to any related reemployment indebtedness. 18 * Sec. 3. AS 39.35.150(b) is amended to read: 19 (b) A member who retired under AS 39.35.370(a) and subsequently becomes 20 an active member may, within 30 days of the date of reemployment, elect to continue 21 receiving benefit payments during the period of reemployment by filing an election 22 with the administrator on a form provided by the administrator. An election under this 23 subsection waives coverage for the period of reemployment and is irrevocable during 24 the period of reemployment. During the period of reemployment, deductions from the 25 member's salary may not be made under AS 39.35.160 and the member may not 26 receive credited service. A member who participated in a retirement incentive 27 program under ch. 26, SLA 1986; ch. 89, SLA 1989; ch. 65, SLA 1996; ch. 4, FSSLA 28 1996; or ch. 92, SLA 1997, is not eligible to make an election under this subsection 29 unless the member is reemployed as a commissioner. 30 * Sec. 4. AS 39.35.150 is amended by adding a new subsection to read: 31 (e) A member who retired under 39.35.370(a) and participated in a retirement
01 incentive program under ch. 26, SLA 1986; ch. 89, SLA 1989; ch. 65, SLA 1996; 02 ch. 4, FSSLA 1996; or ch. 92, SLA 1997, who is subsequently reemployed as a 03 commissioner may become an active member without losing the incentive credit 04 provided under the applicable retirement incentive plan and is not subject to any 05 related reemployment indebtedness. 06 * Sec. 5. The uncodified law of the State of Alaska enacted in sec. 12, ch. 57, SLA 2001, is 07 amended to read: 08 Sec. 12. AS 14.20.135; AS 14.25.043(b), 14.25.043(e), added by sec. 2 of 09 this 2003 Act; AS 39.35.120(b)(2), 39.35.150(b), as amended by sec. 3 of this 2003 10 Act, and 39.35.150(c) are repealed July 1, 2005.