HB 191: "An Act creating an incentive for certain state employees to continue serving past the date the employees become eligible to retire; and providing for an effective date."
00 HOUSE BILL NO. 191 01 "An Act creating an incentive for certain state employees to continue serving past the 02 date the employees become eligible to retire; and providing for an effective date." 03 BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF ALASKA: 04 * Section 1. AS 39.35.680(9) is amended to read: 05 (9) "compensation" means the remuneration earned by an employee 06 for personal services rendered to an employer, including employee contributions under 07 AS 39.35.160, cost-of-living differentials only as provided in AS 39.35.675, payments 08 for leave that is actually used by the employee, the amount by which the employee's 09 wages are reduced under AS 39.30.150(c), and any amount deferred under an 10 employer-sponsored deferred compensation plan, but does not include retirement 11 benefits, severance pay or other separation bonuses, bonus payments under 12 AS 39.51.210, welfare benefits, per diem, expense allowances, workers' compensation 13 payments, or payments for leave not used by the employee whether those leave 14 payments are scheduled payments, lump-sum payments, donations, or cash-ins; for a
01 member first hired on or after July 1, 1996, compensation does not include 02 remuneration in excess of the limitations set out in 26 U.S.C. 401(a)(17) (Internal 03 Revenue Code); 04 * Sec. 2. AS 39.35.680(9) is amended to read: 05 (9) "compensation" means the remuneration earned by an employee 06 for personal services rendered to an employer, including employee contributions under 07 AS 39.35.160, cost-of-living differentials only as provided in AS 39.35.675, payments 08 for leave that is actually used by the employee, the amount by which the employee's 09 wages are reduced under AS 39.30.150(c), and any amount deferred under an 10 employer-sponsored deferred compensation plan, but does not include retirement 11 benefits, severance pay or other separation bonuses, bonus payments under former 12 AS 39.51.210, welfare benefits, per diem, expense allowances, workers' compensation 13 payments, or payments for leave not used by the employee whether those leave 14 payments are scheduled payments, lump-sum payments, donations, or cash-ins; for a 15 member first hired on or after July 1, 1996, compensation does not include 16 remuneration in excess of the limitations set out in 26 U.S.C. 401(a)(17) (Internal 17 Revenue Code); 18 * Sec. 3. AS 39.51 is amended by adding a new section to read: 19 Sec. 39.51.210. Bonus payment for working past retirement eligibility. (a) 20 The commissioner of administration shall pay to a person who has not reached the age 21 set for Medicare eligibility and who is eligible to retire from state service and receive a 22 retirement benefit under AS 39.35.095 - 39.35.680 an annual bonus payment of $1,500 23 each time the person completes a year of continuous employment in state service that 24 the person began after becoming eligible to retire from state service. 25 (b) Calculation of a year of continuous service under this section shall exclude 26 (1) a day for which a person is paid a pension benefit under 27 AS 39.35.095 - 39.35.680, even if the person performs work for the state on that day; 28 (2) a period of continuous unpaid leave that is 11 or more normal 29 workdays in length; 30 (3) a period of separation from state service. 31 (c) The commissioner of administration shall administer this section.
01 * Sec. 4. AS 39.51.210 is repealed five years and one day after the effective date of sec. 3 of 02 this Act. 03 * Sec. 5. Section 2 of this Act takes effect five years and one day after the effective date of 04 sec. 1 of this Act.