2 AAC 37.035. Actuarial adjustment factor basis

The basis of the assumptions for the reduced benefit actuarial adjustment factors

(1) for an early retirement benefit, before July 1, 1981 is a factor that reduces the normal retirement amount by 0.5 percent per month for each month that the retirement precedes the normal retirement age;

(2) on or after July 1, 1981 but before August 1, 1983, is a unisex factor set using a 50 percent to 50 percent blend of male and female rates from the 1971 Group Annuity Mortality Table, table GA71U, with an annual interest rate of 6.25 percent;

(3) on or after August 1, 1983, is for an early retirement benefit, a unisex factor set using a 50 percent to 50 percent blend of male and female rates from the 1971 Group Annuity Mortality Table, table GA7IU, with an annual interest rate of 8.30 percent.

History: Eff. 8/13/2005, Register 175

Authority: AS 22.25.025

AS 22.25.027

The Alaska Administrative Code was automatically converted to HTML from a plain text format. Every effort has been made to ensure its accuracy, but neither Touch N' Go Systems nor the Law Offices of James B. Gottstein can be held responsible for any possible errors. This version of the Alaska Administrative Code is current through June, 2006.

If it is critical that the precise terms of the Alaska Administrative Code be known, it is recommended that more formal sources be consulted. Recent editions of the Alaska Administrative Journal may be obtained from the Alaska Lieutenant Governor's Office on the world wide web. If any errors are found, please e-mail Touch N' Go systems at E-mail. We hope you find this information useful. Copyright 2006. Touch N' Go Systems, Inc. All Rights Reserved.