Alaska Statutes Title 14, Chapter 14.25, Article 03 - Teachers First Hired on or After July 1, 2006

• Sec. 14.25.320 Defined Contribution Retirement Plan Established.
  (a) A defined contribution retirement plan for teachers of the state is created.(b) The defined contribution retirement plan includes a plan in which savings...
• Sec. 14.25.330 Membership.
  (a) A teacher who first becomes a member on or after July 1, 2006, shall participate in the plan as a member of the...
• Sec. 14.25.340 Contributions by Members.
  (a) Each member shall contribute to the member's individual account an amount equal to eight percent of the member's compensation from July 1 to...
• Sec. 14.25.345 Employment Contributions Mandatory.
  (a) Contributions of members shall be made by payroll deductions. Each member shall be considered to consent to payroll deductions. It is of no...
• Sec. 14.25.350 Contributions by Employers.
  (a) An employer shall contribute to each member's individual account an amount equal to seven percent of the member's compensation from July 1 to...
• Sec. 14.25.360 Rollover Contributions and Distributions.
  (a) A teacher entering the plan may elect, at the time and in the manner prescribed by the administrator, to have all or part...
• Sec. 14.25.370 Transmittal of Contributions; Claims Against Funds of an Employer; Use of Contributions.
  (a) All contributions deducted in accordance with AS 14.25.310 - 14.25.590 shall be transmitted to the plan for deposit in the appropriate account or...
• Sec. 14.25.380 Limitations on Contributions and Benefits.
  Notwithstanding any other provisions of this plan, the annual additions to each member's individual account under this plan and under all defined contribution plans...
• Sec. 14.25.390 Vesting.
  (a) A participating member is immediately and fully vested in that member's contributions and related earnings.(b) A member is fully vested in the employer...
• Sec. 14.25.400 Investment of Individual Accounts.
  (a) The board shall provide a range of investment options and permit a participant to exercise investment control over the participant's assets in the...
• Sec. 14.25.410 Distribution Election At Termination.
  (a) A member is eligible to elect distribution of the member's account in accordance with this section 60 days after termination of employment.(b) Notwithstanding...
• Sec. 14.25.420 Forms of Distribution.
  (a) A participant may elect to receive distribution of the participant's share of the individual account in a(1) lump sum payment, which is a...
• Sec. 14.25.430 Manner of Electing Distributions.
  (a) Any election or any alteration or revocation of a prior election by a participant for any purpose under this plan shall be on...
• Sec. 14.25.440 Distribution Requirements.
  (a) Payments to a participant shall commence as soon as administratively feasible following the distribution commencement date. The distribution commencement date is the first...
• Sec. 14.25.450 Designation of Beneficiary.
  (a) Each participant shall have the right to designate a beneficiary and shall have the right, at any time, to revoke the designation or...
• Sec. 14.25.460 Rights Under Qualified Domestic Relations Order.
  (a) Notwithstanding the nonalienation provisions in AS 14.25.500(a), the administrator may direct that benefits be paid to someone other than a member or beneficiary...
• Sec. 14.25.470 Eligibility for Retirement and Medical Benefits.
  (a) In order to obtain medical benefits under AS 14.25.480 , a member must retire directly from the plan. A member is eligible to...
• Sec. 14.25.480 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...
• Sec. 14.25.485 Occupational Disability Benefits and Reemployment of Disabled Members.
  (a) A member is eligible for an occupational disability benefit if employment is terminated because of a total and apparently permanent occupational disability before...
• Sec. 14.25.486 Disability Benefit Adjustment.
  (a) Once each year, the administrator shall increase disability benefits. The amount of the increase is a percentage of the current disability benefit equal...
• Sec. 14.25.487 Occupational Death Benefit.
  (a) If (1) the death of a member occurs before the member's retirement and before the member's normal retirement date, (2) the proximate cause...
• Sec. 14.25.488 Survivors' Pension Adjustment.
  (a) Once each year, the administrator shall increase payments to a person 60 years of age or older receiving a survivor's pension under AS...
• Sec. 14.25.489 Premiums for Retiree Major Medical Insurance Coverage Upon Termination of Disability Benefits or Survivor's Pension.
  The premium for retiree major medical insurance coverage payable by a member whose disability benefit is terminated under AS 14.25.485(g) or by an eligible...
• Sec. 14.25.490 Amendment and Termination of Plan.
  (a) The state has the right to amend the plan at any time and from time to time, in whole or in part, including...
• Sec. 14.25.500 Exclusive Benefit.
  (a) The corpus or income of the assets held in trust as required by the plan may not be diverted or used for other...
• Sec. 14.25.510 Nonguarantee of Returns, Rates, or Benefit Amounts.
  The plan created by AS 14.25.310 - 14.25.590 is, with respect to individual accounts, treated as a defined contribution plan, and not a defined...
• Sec. 14.25.520 Nonguarantee of Employment.
  The provisions of AS 14.25.310 - 14.25.590 are not a contract of employment between an employer and an employee, nor do they confer a...
• Sec. 14.25.530 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...
• Sec. 14.25.532 Pension Forfeiture.
  The provisions of AS 37.10.310 apply to pension benefits under AS 14.25.310 - 14.25.590.
• Sec. 14.25.540 Transfer Into Defined Contribution Retirement Plan by Nonvested Members of Defined Benefit Retirement Plan.
  (a) Subject to (i) of this section, an active member of the defined benefit retirement plan of the teachers' retirement system is eligible to...
• Sec. 14.25.550 Membership in Teachers' and Public Employees' Retirement Systems.
  A person who is employed at least half-time in the public employees' defined contribution retirement plan (AS 39.35.700 - 39.35.990) during the same period...
• Sec. 14.25.560 Legislators Who Have Been Teachers.
  (a) A state legislator who was an active member of the defined contribution plan under other sections of AS 14.25.310 - 14.25.590 within the...
• Sec. 14.25.570 Participation by National Education Association Employees. [Repealed, Sec. 116(a) Ch 20 Sla 2007].
  Repealed or Renumbered
• Sec. 14.25.580 Participation by Special Education Service Agency Employees.
  An employee of the Special Education Service Agency may participate in the system under this chapter if the employee possesses or is eligible to...
• Sec. 14.25.582 Special Rules for Treatment of Qualified Military Service.
  (a) Notwithstanding any contrary provisions of AS 14.25.310 - 14.25.590, with respect to qualified military service, contributions shall be made and benefits and service...
• Sec. 14.25.590 Definitions.
  In AS 14.25.310 - 14.25.590, unless the context requires otherwise,(1) "administrator" has the meaning given in AS 14.25.220 ;(2) "alternate payee" means a person...

Last modified: November 15, 2016