Section 14.25.390. Vesting.

   (a) A participating member is immediately and fully vested in that member's contributions and related earnings.
   (b) A member is fully vested in the employer contributions made on that member's behalf, and related earnings, after five years of service. A member is partially vested in the employer contributions made on that member's behalf, and the related earnings, in the ratio of
        (1) 25 percent with two years of service;
        (2) 50 percent with three years of service; and
        (3) 75 percent with four years of service.

Authorities

14.25.485;14.25.487;14.25.540

Notes

Implemented As

2 AAC 36.098
2 AAC 36.185

References

2 AAC 36.098
2 AAC 36.183
2 AAC 36.185
AS 14.25.485 Occupational disability benefits and reemployment of disabled members.
AS 14.25.487 Occupational death benefit.
AS 14.25.540 Transfer into defined contribution retirement plan by nonvested members of defined benefit retirement plan.

History

(Sec. 35 ch 9 FSSLA 2005)