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- Alaska Statutes.
- Title 14. Education, Libraries, and Museums
- Chapter 25. Teachers' Retirement
- Section 200. Exemption From Taxation and Process.
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Section 195. Special Rules For Treatment of Qualified Military Service.
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Section 205. Time Limit For Application.
AS 14.25.200. Exemption From Taxation and Process.
(a) Except as provided in AS 29.45.030(a)(1) or in (c) of this
section, member contributions and other amounts held in the plan on behalf of a member or other person who is or may become eligible
for benefits under the plan are exempt from Alaska state and municipal taxes and are not subject to anticipation, alienation, sale,
transfer, assignment, pledge, encumbrance, or charge of any kind, either voluntary or involuntary, before they are received by the person
entitled to the amount under the terms of the plan. Any attempt to anticipate, alienate, sell, transfer, assign, pledge, encumber, charge,
or otherwise dispose of any right to amounts accrued in the plan is void. However, a member's right to receive benefits or the member
contribution account may be assigned
(1) under a qualified domestic relations order;
(2) to a trust or similar legal device that meets the requirements for a Medicaid-qualifying trust under AS 47.07.020(f) and 42 U.S.C. 1396p(d)(4); or
(3) as provided in (c) of this section.
(b) Member contributions and other amounts held in the plan and benefits payable under AS 14.25.009 - 14.25.220 are exempt from
garnishment, execution, or levy as provided in AS 09.38(exemptions).
(c) An inactive member may elect to have the taxable portion of the member contribution account transferred directly to
another plan or an individual retirement arrangement that is qualified under the federal Internal Revenue Code and that
accepts the transfer.
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