SB 192: "An Act relating to benefits for members of the public employees' retirement system during a subsequent retirement."
00SENATE BILL NO. 192 01 "An Act relating to benefits for members of the public employees' retirement 02 system during a subsequent retirement." 03 BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF ALASKA: 04 * Section 1. AS 39.35.150 is amended to read: 05 Sec. 39.35.150. RE-EMPLOYMENT OF RETIRED EMPLOYEES. If a 06 retired employee subsequently becomes an active member, no benefit payments may 07 [WILL] be made during the period of re-employment. During the period of 08 re-employment, deductions from the employee's salary shall [WILL] be made in 09 accordance with AS 39.35.160. Upon subsequent retirement, the retired employee is 10 entitled to receive 11 (1) an additional pension based on the credited service and the average 12 monthly compensation earned during the period of re-employment in accordance with 13 AS 39.35.370; and 14 (2) an increase to the amount of the employee's initial monthly
01 benefit equal to the amount of the post retirement pension adjustments for which 02 the employee would have been eligible under AS 39.35.475 had the member been 03 receiving retirement benefits during the period of re-employment.