(a) Subject to AS 14.25.167, a member is eligible for a normal retirement benefit if the member (1) was first hired before July 1, 1975, has attained the age of 55 years, and has at least 15 years of credited service, the last five of which have been membership service, or is otherwise vested in […]
(a) A teacher in membership service on or after July 1, 1977, who is appointed to retirement on or after July 1, 1978, may elect to apply unused sick leave credit in computing the total number of years of credited service under AS 14.25.110(d) except for sick leave earned while participating in a university retirement […]
(a) Subject to AS 14.25.167, a member is eligible for a normal retirement salary at age 60 with at least (1) two years membership service if the member also is eligible for a normal retirement benefit under the public employees’ retirement system (AS 39.35); or (2) one year of membership service if the member is […]
(a) A member who has five or more years of membership service is eligible for a disability pension if, after July 1, 1966, and before the member’s normal retirement date, the member’s employment is terminated because of a permanent disability as defined in AS 14.25.220. (b) [Repealed, § 16 ch 13 SLA 1980.] (c) Once […]
(a) While residing in the state, a person receiving a benefit under AS 14.25.009 – 14.25.220 who is at least 65 years of age or who is receiving a disability benefit under AS 14.25.009 – 14.25.220 is entitled to receive a monthly cost-of-living allowance in addition to the basic benefit. The amount of this allowance […]
(a) Once each year, the administrator shall increase benefit payments to eligible disabled members, to persons age 60 or older receiving benefits under this plan in the preceding calendar year, and to persons who have received benefits under this plan for at least eight years who are not otherwise eligible for an increase under this […]
Interest shall be credited to each teacher’s account at the end of each school year at the rate prescribed by the board for that year.
(a) Except as provided in (b) of this section, a terminated member is entitled to a refund of the balance of the member contribution account. A member is not entitled to a refund of supplemental contributions except as provided in AS 14.25.160(a). (b) A member who is terminated and is a vested member, deferred vested […]
A former spouse shall be treated as a spouse or surviving spouse under AS 14.25.009 – 14.25.220 to the extent required by a qualified domestic relations order. Rights under the order do not take effect until the order is filed with the administrator.
(a) If the death of a member occurs after completing less than one year of membership service and the proximate cause of death is not a bodily injury sustained or hazard undergone while in the performance and within the scope of the member’s duties of employment, the member’s designated beneficiary shall be paid the balance […]
(a) If (1) the death of a member occurs before the member first attains eligibility for normal retirement, and (2) the proximate cause of death is a bodily injury sustained or hazard undergone while in the performance and within the scope of the member’s duties of employment, and (3) the injury or hazard is not […]
(a) A death benefit shall be paid and any supplemental contributions shall be refunded to the designated beneficiary, upon receipt of a valid claim and proof of the death of a member who (1) is not retired and is not eligible for benefits under AS 14.25.162 or 14.25.164; and (2) either (A) has made supplemental […]
(a) If an active or disabled member dies and leaves a dependent child, and supplemental contributions have been made under AS 14.25.055 for at least one year of credited service, a survivor’s allowance is payable under (b) of this section. If a retired member or a deferred vested member dies and leaves a dependent child, […]
(a) A distributee may elect, at the time and in the manner prescribed by the administrator, to have all or part of an eligible rollover distribution paid directly to an eligible retirement plan specified by the distributee in the direct rollover. (b) Except as provided by AS 14.25.075(f), the plan does not accept contributions of […]
(a) If an active or disabled member dies, a pension is payable to the member’s spouse if the member made supplemental contributions under AS 14.25.055 for at least one year of credited service. If a retired member or deferred vested member dies, a pension is payable to the member’s spouse if the member made supplemental […]
(a) The entire interest of a member must be distributed or must begin to be distributed not later than the member’s required beginning date. (b) If a member dies after the distribution of the member’s interest has begun but before the distribution has been completed, the remaining portion of the interest shall continue to be […]
(a) Each member shall designate the beneficiary or beneficiaries to whom the administrator shall distribute benefits payable under AS 14.25.009 – 14.25.220 as a consequence of the member’s death. Notwithstanding a previous designation of beneficiary, a person who is the spouse of a member at the time of the member’s death automatically becomes the designated […]
(a) Benefits payable under this section are in place of benefits payable under AS 14.25.110, 14.25.125, 14.25.155, 14.25.157, 14.25.160, 14.25.162, or 14.25.164. Upon filing an application for retirement with the administrator, or when a disabled member becomes eligible for normal retirement under AS 14.25.130(e), the member shall designate the person who is the member’s spouse […]
(a) Except as provided in (c) of this section, the following persons are entitled to major medical insurance coverage under this section: (1) for teachers first hired before July 1, 1990, (A) a teacher who is receiving a monthly benefit from the plan and who has elected coverage; (B) the spouse and dependent children of […]
If payments from this retirement plan are due to a teacher or to the teacher’s spouse under more than one provision of this plan, the teacher or spouse shall elect under which provision and which benefit the teacher or spouse wishes to receive and no payments may be made under any other provision. However, benefits […]
