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Title 2 . Administration
Chapter 35 . Public Information
Section 300. Refunds of payments applied toward indebtedness

2 AAC 35.300. Refunds of payments applied toward indebtedness

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 would have been had the additional service not been claimed, the division shall refund all indebtedness payments, plus accrued interest, upon payment of benefits only.

History: Eff. 12/3/84, Register 93

Authority: AS 39.35.040

AS 39.35.200

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Last modified 7/05/2006