2 AAC 35.310. Post-retirement pension adjustments

(a) The board will annually recommend to the administrator a PRPA for purposes of the version of AS 39.35.475 in effect before July 1, 1986.

(b) The amount of the PRPA 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 in which benefits have been received.

(c) A retired employee who first joined the system before July 1, 1986 and who is eligible for a PRPA under AS 39.35.475 will receive either the PRPA calculated under the current version of AS 39.35.475 or the adjustment calculated under the version of AS 39.35.475 in effect before July 1, 1986, whichever is greater.

History: In effect before 10/21/83, Register 93; am 1/7/2001, Register 159; am 2/13/2004, Register 172

Authority: AS 39.35.040

AS 39.35.042

AS 39.35.475

Editor's note: Even though the adoption of 2 AAC 35.310(c) was effective 2/13/2004, it was not published until Register 172, January 2005.

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