Alaska Statutes: AS 39.35.270. Amount of Employer's Contributions.

Alaska Statutes. Title 39. Public Officers and Employees Chapter 35. Public Employees' Retirement System of Alaska Section 270. Amount of Employer's Contributions.

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AS 39.35.270. Amount of Employer's Contributions.

(a) The amount of each employer's contributions shall be determined by applying the sum of the consolidated employer normal cost rate and the employer's past service rate to the total compensation paid to the employer's active employees in the system for each payroll period, including any adjustments to contributions required by AS 39.35.520(a). This amount shall be remitted by the employer to the administrator in accordance with AS 39.35.610.
(b) The employer contribution rate may not be less than the rate required, after subtracting the member contribution rate, to fully fund the actuarially calculated benefits expected to be earned by active members during a fiscal year.
(c) Each employer of a retired member rehired under the authority of AS 39.35.150 (b) shall make contributions to the unfunded liability of the plan on behalf of that retired member at the rate that the employer is making contributions to the unfunded liability of the plan for that employer's other members.

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