Sec. 39.45.055. Appeals.
A final decision made under AS 39.45.010 – 39.45.060 is subject to appeal under AS 44.64.
Sec. 39.45.060. Definitions.
In this chapter, (1) “board” means the trustees of the Alaska Retirement Management Board established under AS 37.10.210; (2) “employee” means a person, whether appointed, elected, or under contract, who provides services for the state or a political subdivision of the state for which compensation is given; (3) “Roth contribution” means a contribution under 26 […]
Sec. 39.45.010. Authority.
The state or a political subdivision of the state may, by contract, agree with an employee to defer, in whole or in part, that employee’s salary or wages.
Sec. 39.45.020. Administration of program.
(a) The administration of the deferred compensation program for state employees is under the direction of the Department of Administration. A political subdivision coming under the provisions of this chapter shall designate the office or official to administer its program. (b) Payroll deductions are authorized by this chapter and shall be made by the appropriate […]
Sec. 39.45.030. Investment authority.
(a) The Alaska Retirement Management Board is authorized, subject to contracts with individual employees, to invest the funds held under a deferred compensation program. The board has the same powers and duties concerning the management and investment in regard to those funds as are provided under AS 37.10.220. (b) [Repealed, § 24 ch 31 SLA […]
Sec. 39.45.040. Additional benefits.
The deferred compensation program established under this chapter exists and serves in addition to any existing retirement, pension, or benefit system established by the state or its political subdivisions and may not effect a reduction in benefits receivable under an existing system.
Sec. 39.45.050. Tax deferred investments.
(a) The administrator of a deferred compensation program under this chapter shall invest in contracts that (1) allow for deferment of state and federal income tax until benefits are received under the program; and (2) do not provide for deferral of state and federal income tax until the benefits are received under the program. (b) […]