Sec. 39.40.020. Administration.
(a) The wage deductions withheld under AS 39.40.010 shall be held in trust until a United States savings bond is purchased by the Department of Administration. After the purchase of the bond, it shall be turned over to the employee. (b) The Department of Administration shall adopt regulations to carry out this chapter.
Sec. 39.35.930. Fraud.
(a) A person who knowingly makes a false statement or falsifies or permits to be falsified a record of this plan in an attempt to defraud the plan is guilty of a class A misdemeanor. (b) In this section, “knowingly” has the meaning given in AS 11.81.900(a).
Sec. 39.35.932. Pension forfeiture.
The provisions of AS 37.10.310 apply to pension benefits under AS 39.35.700 – 39.35.990.
Sec. 39.35.940. Transfer into defined contribution plan by nonvested members of defined benefit plan.
(a) Subject to (i) of this section, an active member of the defined benefit retirement plan of the public employees’ retirement system is eligible to participate in the defined contribution retirement plan established under AS 39.35.700 – 39.35.990 if that member has not vested. Participation in the defined contribution retirement plan is in lieu of […]
Sec. 39.35.950. Request by political subdivision to participate and adoption of resolution.
A municipality or other political subdivision of the state may request to become an employer in this plan. The request shall be made after adoption of a resolution by the legislative body of the political subdivision and after approval of the resolution by the person required by law to approve the resolution. A certified copy […]
Sec. 39.35.955. Request by public organization to participate and adoption of resolution.
A public organization may request to become an employer in this plan. The request shall be made after adoption of a resolution by the governing body of the public organization. A certified copy of the resolution shall be filed with the administrator. If the administrator approves the request for participation, the public organization is an […]
Sec. 39.35.870. Eligibility for retirement and medical benefits.
(a) In order to obtain medical benefits under AS 39.35.880, an active member must retire directly from the plan. A member is eligible to retire from the plan if the member has been an active member for at least 12 months before application for retirement and (1) the member has at least 25 years of […]
Sec. 39.35.956. Contractors and employees of contractors excluded from plan.
(a) A person or legal entity providing services to the state or to a political subdivision or public organization on a contractual or fee basis may not participate as an employer in the plan based on those services. (b) A person may not participate in the plan as an employee or member as the result […]
Sec. 39.35.880. Medical benefits.
(a) The medical benefits available to eligible persons are access to the retiree major medical insurance plan and to the health reimbursement arrangement under AS 39.30.300. Access to the retiree major medical insurance plan means that an eligible person may not be denied insurance coverage except for failure to pay the required premium. (b) Retiree […]
Sec. 39.35.957. Designation of eligible employees, agreement to contribute, and amendment of participation.
(a) A political subdivision or public organization participating in the defined contribution retirement plan under AS 39.35.700 – 39.35.990 shall designate the departments, groups, or other classifications of employees eligible to participate in the plan and, by participating, shall legally be presumed to have agreed to make contributions each year in the amounts required for […]