Alaska Statutes Title 39, Chapter 39.35, Article 10 - Employees First Hired on or After July 1, 2006

• Sec. 39.35.710 Defined Contribution Retirement Plan Established; Federal Qualification Requirements.
  (a) A defined contribution retirement plan is established for employees of the state or a political subdivision or public organization of the state.(b) The...
• Sec. 39.35.720 Membership.
  An employee who becomes a member on or after July 1, 2006, shall participate in the plan set out in AS 39.35.700 - 39.35.990.
• Sec. 39.35.725 Participation of Elected Officials of Political Subdivisions.
  (a) An elected official of a political subdivision of the state that participates in both the plan and the defined benefit plan of AS...
• Sec. 39.35.730 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. 39.35.740 Employment Contributions Mandatory.
  Contributions of employees shall be made by payroll deductions. Every included employee shall be considered to consent to payroll deductions. It is of no...
• Sec. 39.35.750 Contributions by Employers.
  (a) An employer shall contribute to each member's individual account an amount equal to five percent of the member's compensation from July 1 to...
• Sec. 39.35.760 Rollover Contributions and Distributions.
  (a) An employee entering the plan may elect, at the time and in the manner prescribed by the administrator, to have all or part...
• Sec. 39.35.770 Transmittal of Contributions; Claims Against Funds of an Employer.
  (a) All contributions deducted in accordance with AS 39.35.700 - 39.35.990 shall be transmitted to the plan for deposit in the appropriate account or...
• Sec. 39.35.780 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. 39.35.790 Vesting.
  (a) A participating member is immediately and fully vested in that member's contributions and related earnings.(b) A member shall be fully vested in the...
• Sec. 39.35.800 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. 39.35.810 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. 39.35.820 Forms of Distribution.
  (a) A participant may elect to receive the participant's share of the individual account in a(1) lump sum payment, which is a single payment...
• Sec. 39.35.830 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. 39.35.840 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. 39.35.850 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. 39.35.860 Rights Under Qualified Domestic Relations Order.
  (a) Notwithstanding the nonalienation provisions in AS 39.35.900(a), the plan administrator may direct that benefits be paid to someone other than a member or...
• 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...
• 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...
• Sec. 39.35.890 Occupational Disability Benefits and Reemployment of Disabled Employees.
  (a) An employee is eligible for an occupational disability benefit if employment is terminated because of a total and apparently permanent occupational disability before...
• Sec. 39.35.891 Disability Benefit and Disabled Peace Officer or Firefighter Retirement Benefit Adjustment.
  (a) Once each year, the administrator shall increase disability benefits and retirement benefits elected by disabled peace officers or firefighters under AS 39.35.890 (h)(2)....
• Sec. 39.35.892 Occupational Death Benefit.
  (a) If (1) the death of an employee occurs before the employee's retirement and before the employee's normal retirement date, (2) the proximate cause...
• Sec. 39.35.893 Survivor's 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. 39.35.894 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 an employee whose disability benefit is terminated under AS 39.35.890(g) or by an eligible...
• Sec. 39.35.895 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. 39.35.900 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. 39.35.910 Nonguarantee of Returns, Rates, or Benefit Amounts.
  The plan created by AS 39.35.700 - 39.35.990 is, with respect to individual accounts, treated as a defined contribution plan, and not a defined...
• Sec. 39.35.920 Nonguarantee of Employment.
  The provisions of AS 39.35.700 - 39.35.990 are not a contract of employment between an employer and an employee, nor do they confer a...
• 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...
• 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...
• 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...
• 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...
• 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,...
• Sec. 39.35.958 Termination of Participation in the Plan.
  (a) A political subdivision or public organization may request that its participation in the plan be terminated. The request may be made only after...
• Sec. 39.35.960 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. 39.35.965 Army and Air National Guard Employees.
  A regular full-time civilian employee of the Alaska Army National Guard and Air National Guard whose entire salary is paid from allotted federal funds...
• Sec. 39.35.970 North Pacific Fishery Management Council Employees.
  An employee of the North Pacific Fishery Management Council appointed under 16 U.S.C. 1852(f)(1)(Sec. 302(f)(1) of P.L. 94-265) whose compensation is paid from allotted...
• Sec. 39.35.972 Special Rules for Treatment of Qualified Military Service.
  (a) Notwithstanding any contrary provisions of AS 39.35.700 - 39.35.990, with respect to qualified military service, contributions shall be made and benefits and service...
• Sec. 39.35.990 Definitions.
  In AS 39.35.700 - 39.35.990, unless the context requires otherwise,(1) "administrator" means the commissioner of administration or the commissioner's designee;(2) "alternate payee" means the...

Last modified: November 15, 2016