Section 39.35.160. Amount of employee contributions.

   (a) Beginning January 1, 1987, each peace officer or firefighter shall contribute to the plan an amount equal to seven and one-half percent of the peace officer's or firefighter's compensation. Except as provided in (d) of this section, beginning January 1, 1987, each other employee shall contribute to the plan an amount equal to six and three-quarters percent of the employee's compensation. The contributions shall be deducted by the employer at the end of each payroll period. The contributions shall be deducted from employee compensation before computation of applicable federal taxes, and the contributions shall be treated as employer contributions under 26 U.S.C. 414(h)(2). A member may not have the option of making the payroll deduction directly instead of having the contribution picked up by the employer.
   (b)   [Repealed, Sec. 6 ch 135 SLA 1980 and Sec. 39 ch 146 SLA 1980]. 
   (c) An employee who has made an election under AS 39.35.300(c) or 39.35.310(c) to have the employee's years of service as a noncertificated employee of a state boarding school, of a school district or regional educational attendance area, of the special education service agency, or of the Alaska Vocational Technical Center determined by reference to AS 14.25.220 shall pay a contribution surcharge for that service. The amount of the surcharge is the difference between the amount the employer would have had to contribute under AS 39.35.255 - 39.35.290 for the employee when treating the employee's credited service as service earned under AS 39.35.300(c) or 39.35.310(c) less the amount the employer would have had to contribute under AS 39.35.255 - 39.35.290 without treating the employee's credited service as service earned under AS 39.35.300(c) or 39.35.310(c).
   (d) The employer of a member who is employed by a school district, a regional educational attendance area, or a state boarding school who is assaulted while on the job and who, as a result of a physical injury from the assault, is placed on unpaid leave of absence or is receiving benefits under AS 23.30, shall pay the member's contributions under this section while the member is, as a result of the on-the-job injury, on unpaid leave or receiving the benefits under AS 23.30.

Authorities

37.10.220;37.10.310;39.35.100;39.35.150;39.35.165;39.35.300;39.35.310;39.35.520;39.35.680

Notes

Recent Bills that will modify this

HB 90 PEACE OFFICER/FIREFIGHTER RETIREMENT
HB 280 TEACHERS & PUB EMPLOYEE RETIREMENT PLANS
SB 83 PEACE OFFICER/FIREFIGHTER RETIREMENT
SB 88 TEACHERS & PUB EMPLOYEE RETIREMENT PLANS

References

AS 37.10.220 Powers and duties of the board.
AS 37.10.310 Pension forfeiture by public officers convicted of crimes involving corruption.
AS 39.35.100 Accounting.
AS 39.35.150 Re-employment of retired employees.
AS 39.35.165 Purchase of credited service.
AS 39.35.300 Employment with the state.
AS 39.35.310 Employment with other employers.
AS 39.35.520 Adjustments.
AS 39.35.680 Definitions.

History

(Sec. 8 a ch 143 SLA 1960; am Sec. 2 ch 235 SLA 1968; am Sec. 3 ch 35 SLA 1969; am Sec. 5 ch 109 SLA 1970; am Sec. 5 ch 159 SLA 1972; am Sec. 2 ch 58 SLA 1979; Sec. 6 ch 135 SLA 1980; am Sec. 39 ch 146 SLA 1980; am Sec. 15 ch 82 SLA 1986; am Sec. 1 ch 22 SLA 1999; am Sec. 4, 5 ch 52 SLA 2000; am Sec. 36 ch 68 SLA 2000; am Sec. 30 ch 59 SLA 2002; am Sec. 10 ch 13 SLA 2008)