Alaska Administrative Code

(a) An employer that proposes to terminate coverage of a department, group, or other classification of employees under AS 39.35.615 or 39.35.957, or terminate participation of the employer under AS 39.35.620 or 39.35.958, must have a termination study completed by the plan actuar…

A designation of beneficiary, a change or revocation of a beneficiary, or a consent to a revocation of a beneficiary must be made on a form provided by the administrator and filed with the plan administrator or the administrator's designee. The administrator's designee is the ent…

(a) After a member covered under AS 39.35.700-39.35.900 is divorced or the member's marriage is dissolved, the member's former spouse has no individual rights or entitlements to benefits from the system, but may, under a qualified domestic relations order, establish a separate in…

(a) The Alaska cost-of-living allowance established under AS 39.35.480 accrues from the first day of the month after written application from the member, on a form prescribed by the administrator, is either hand delivered to the division of retirement and benefits, or is mailed t…

An employee who elects to designate a spouse or dependent as contingent beneficiary may not change that designation after the date of appointment to retirement unless the employee makes written application and receives approval in writing from the administrator. Notes 2 AAC 35.25…

The only dependent other than a spouse whom the administrator will approve as a contingent beneficiary for a joint and survivor benefit under AS 39.35.450(a) is a disabled child of the employee who is principally dependent upon the employee for support and who is totally and pres…

For purposes of AS 39.35.490(a) and in accordance with AS 13.12.804(a)(1)(A), a divorce, a dissolution of a marriage, or an annulment of a marriage revokes a revocable disposition or appointment of property. If a member designates a spouse as a beneficiary and is subsequently div…

To be eligible for retirement benefits under AS 39.35.370(a)(1) and (b), nonoccupational disability benefits under AS 39.35.400(a) and nonoccupational death benefits under AS 39.35.420(b), an employee must have at least five years of credited service for which no indebtedness is …

A member who has been credited with service under AS 39.35.360 may be required to provide the administrator with proof of the benefit amount the member is receiving from the United States Government for that same period of service, or proof that the member is not entitled to rece…

(a) A benefit overpayment other than one described in AS 39.35.520(b) or waived under AS 39.35.522 must be recovered by applying a lifetime actuarial reduction to the benefit recipient's future monthly benefits, unless the benefit recipient elects to pay the overpayment in a lump…

Benefits and credited service accrue on the basis of the employee's occupational category. If an employee has credited service both as a peace officer or fireman and as an elected official or regular employee, the portion of that employee's benefit attributable to each category o…

For the purpose of calculating the actuarial cost of a public service benefit, interest earned on contributions and indebtedness payments means total investment returns as reported by the plan's financial statements in each relevant annual financial report of the system. Notes 2 …

(a) The administrator shall determine eligibility for disability benefits under AS 39.35. The administrator may require the employee to provide additional information and to submit to an examination by one or more physicians of the administrator's choosing at the division's expen…

(a) Occupational disability benefits cease when a member recovers from an injury or illness. Proof of such recovery may include, among other things, medical evidence or proof of capability to work in a comparable position offered to the member by an employer as defined in AS 39.3…

(a) It is the responsibility of the member to make application for retirement in writing on a form prescribed by the administrator. The effective date of application is the day the application is received by the division; or, if mailed, the day the application is postmarked. A me…

(a) Pursuant to AS 39.35.115, and for purposes of compliance with the Internal Revenue Code of 1986, as amended, and applicable Treasury Regulations, the Public Employees' Retirement System Tiers 1, 2, and 3 Defined Benefit Plan under AS 39.35.095-39.35.680 adopts by reference, a…

When computing a retirement benefit for a member who has an outstanding indebtedness balance, if the division of retirement and benefits determines that the adjusted retirement benefit using the credited service gained from establishing the indebtedness is less than the benefit w…

(a) Repealed 7/20/2006. (b) The amount of the post-retirement pension adjustment will be calculated under AS 39.35.475 for each full year in which benefits have been received, and a proportionately reduced amount calculated for each partial year depending on the number of months …

(a) The number of years and partial years a member has spent as a disability benefit recipient will be included when determining eligibility for benefit increases under AS 39.35.475 for a member previously receiving a disability benefit whose benefit has been converted to a norma…

A retirement benefit adjustment at age 65 for a member who has selected the level income option applies to post-retirement pension adjustments (PRPA) and the Alaska cost-of-living allowance (COLA). Except as provided in 2 AAC 35.320, the COLA percentage and the percentage of PRPA…

(a) Upon subsequent retirement after a period of reemployment in a PERS covered position, retirement benefits are recalculated under this section for those members who were first enrolled in PERS before July 1, 1977. The recalculation shall combine all periods of employment, and …

(a) If a member has elected either a reduced early retirement benefit or a level income option (LIO) and then returns to work in a PERS designated position, retirement benefits are suspended during the period of reemployment, and recalculated upon subsequent retirement under to t…

(a) After a member covered under AS 39.35.095-39.35.680 is divorced or the member's marriage is dissolved, the member's former spouse has no individual rights or entitlements to benefits from the system, but may, under a qualified domestic relations order, share in the stream of …

(a) The basis of the assumptions for the reduced benefit actuarial adjustment factors from July 1, 1973 through June 30, 1975 are(1) for the 50 percent or 75 percent joint and survivor option, a factor set using separate male and female rates from the 1971 Group Annuity Mortality…

(a) Service credit for permanent full-time employees is granted on the basis of one calendar day of service for each day in pay status. Regularly scheduled days off and holidays are allowed as credited service, provided that the employee was held in pay status on the regularly sc…

Unless a provision of AS 39.35 or of this chapter otherwise provides, only service credit that is earned by an active employee under AS 39.35.300 or AS 39.35.310 and that is paid in full can be used to determine the date that an employee (1) attains vested member status; and (2) …

Service that has been claimed by a member under AS 39.35.330(c) and 39.35.330(d) counts towards vested member status and retirement eligibility once the cost to claim the service has been paid in full. Notes 2 AAC 35.335 Eff. 2/13/2004, Register 172; readopt 7/20/2006, Register 1…

Any period or periods of authorized leave of absence without pay totaling not more than 10 working days in a calendar year will be considered as creditable service. Once the total of any period or periods of authorized leave of absence without pay exceeds 10 working days in a cal…

An employment segment which has been designated as a temporary or nonpermanent appointment, or an employment segment for which a person has been designated as a temporary or nonpermanent employee by the employer is not creditable under this system except for temporary employment …

Only full-time temporary service may be applied toward a service retirement under AS 39.35.345(d). Notes 2 AAC 35.351 Eff. 1/7/2001, Register 159; readopt 7/20/2006, Register 179 Effective 7/20/2006, Register 179, the Department of Administration readopted 2 AAC 35.351, without c…

An employee who has claimed temporary service under AS 39.35.345 shall make an election whether or not to use the temporary service to satisfy the credited service requirements for normal retirement at application for retirement. Notes 2 AAC 35.352 Eff. 1/7/2001, Register 159; am…

(a) The cost for converting membership service for retirement eligibility under AS 39.35.370(g) and AS 39.35.370(h) is the difference between the present value of the benefits the employee receives after the conversion and the present value of the benefits that the employee would…

Military service performed by an employee who is a member of a reserve or National Guard unit after a call to active duty, whether voluntary or involuntary, constitutes membership service and does not count towards the maximum number of years of military service allowed to be cla…

(a) A disabled member receiving a disability benefit determined under AS 39.35.370(c) may not receive a benefit based on credit for any service for which an indebtedness exists until the indebtedness has been paid in full. (b) The indebtedness for military service for a person el…

A claim for credited service served before retirement but which is not filed until after appointment to retirement benefits is effective as of the first of the month following the date that the claim is received. The system is not liable for any benefits based upon the newly clai…

Notes 2 AAC 35.380 Eff. 8/7/92, Register 126; deleted as of Register 175, October 2005

Notes 2 AAC 35.385 Eff. 8/7/92, Register 126; deleted as of Register 175, October 2005

Notes 2 AAC 35.390 Eff. 8/7/92, Register 126; deleted as of Register 175, October 2005

The prescribed rate of interest that accrues on any indebtedness amount under the defined benefit plan of the Public Employees' Retirement System (AS 39.35.095-39.35.680) is seven percent, compounded semiannually on June 30 and December 31 of each year. Notes 2 AAC 35.400 Eff. 7/…

An employee with an indebtedness to the defined benefit plan of the Public Employees' Retirement System (AS 39.35.095-39.35.680) who wishes to pay off the balance of that indebtedness, including accrued interest, must pay off the balance before the employees' retirement benefit b…

(a) Indebtedness balances of $50 or less in the defined benefit plan of the Public Employees' Retirement System (AS 39.35.095-39.35.680) are written off. (b) Refunds of $50 or less in the defined benefit plan of the Public Employees' Retirement System (AS 39.35.095-39.35.680) are…

(a) The prescribed rate of interest to be credited to employee contribution accounts in the defined benefit plan of the Public Employees' Retirement System (AS 39.35.095-39.35.680) is four and one-half percent. (b) This plan is not liable for interest on contributions which canno…

(a) An employee participating in the defined benefit plan of the Public Employees' Retirement System (AS 39.35.095-39.35.680) who completes three years of service with the state after January 1, 1961, is entitled to credited service for employment as a peace officer or fireman pe…

Except as may be expressly authorized by AS 39.35.095-39.35.680, for purposes of the statutes governing the defined benefit plan of the Public Employees' Retirement System (AS 39.35.095-39.35.680) (1) "peace officer" means only a person who is a regular employee of a police agenc…

(a) This section determines which University of Alaska personnel are members of the Public Employees' Retirement System. (b) The University of Alaska shall make a recommended designation to the administrator of all University of Alaska positions as belonging to the Public Employe…

The defined benefit plan of the Public Employees' Retirement System (AS 39.35.095-39.35.680) shall use unisex tables containing unisex joint and survivor option factors, unisex early retirement factors, and unisex indebtedness factors in all appropriate computations. The plan sha…

(a) In this chapter, unless the context otherwise requires, "division" means the Division of Retirement and Benefits in the Department of Administration. (b) In AS 39.35.006, "decision made by the administrator" means a decision in a matter over which the administrator has contro…