00HOUSE BILL NO. 188                                                                                                      
01 "An Act relating to calculation of compensation for the public employees'                                               
02 retirement system."                                                                                                     
03 BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF ALASKA:                                                                
04    * Section 1.  AS 39.35.680(8) is amended to read:                                                                    
05   (8)  "compensation" means the total remuneration earned by an                                                        
06 employee for personal services rendered to an employer, including employee                                              
07 contributions under AS 39.35.160, cost-of-living differentials only as provided in                                      
08 AS 39.35.675, payments for leave that is actually used by the employee, the amount                                      
09 by which the employee's wages are reduced under AS 39.30.150(c), and any amount                                         
10 deferred under an employer-sponsored deferred compensation plan, but does not                                           
11 include retirement benefits, severance pay or other separation bonuses, welfare                                         
12 benefits, per diem, expense allowances, workers' compensation payments, overtime                                       
13 pay, or payments for leave not used by the employee whether those leave payments                                       
14 are scheduled payments, lump-sum payments, donations, or cash-ins;                                                      

01    * Sec. 2.  The amendment made by this Act applies to employees first hired on or after the                           
02 effective date of this Act.