CSHB 438(STA): "An Act permitting certain emergency medical personnel to convert their credited service under the public employees' retirement system to credited service as peace officers; and providing for an effective date."
00CS FOR HOUSE BILL NO. 438(STA) 01 "An Act permitting certain emergency medical personnel to convert their credited 02 service under the public employees' retirement system to credited service as peace 03 officers; and providing for an effective date." 04 BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF ALASKA: 05 * Section 1. AS 39.35.370 is amended by adding a new subsection to read: 06 (g) When an employee who was employed by an employer in the public 07 employees' retirement system as an emergency medical service officer or an emergency 08 medical technician applies for appointment to retirement, the employee may convert 09 the credited service for that position to credited service as a peace officer by claiming 10 the service as peace officer service. An employee who has converted credited service 11 to peace officer service under this subsection shall be treated as a peace officer for 12 purposes of this chapter. When the member claims this credited service as peace 13 officer service, an indebtedness of the member to the system shall be established. The 14 indebtedness is equal to the full actuarial cost of the conversion of the credited service
01 to treatment as peace officer service. Any outstanding indebtedness that exists at the 02 time the member is appointed to retirement will require an actuarial adjustment to the 03 benefits payable based upon the conversion of the credited service. 04 * Sec. 2. This Act takes effect immediately under AS 01.10.070(c).