Section 39.35.750. Contributions by employers.

   (a) An employer shall contribute to each member's individual account an amount equal to five percent of the member's compensation from July 1 to the following June 30.
   (b) An employer shall also contribute an amount equal to a percentage, as adopted by the board, of each member's compensation from July 1 to the following June 30 to pay for retiree major medical insurance. This contribution shall be paid into the Alaska retiree health care trust established by the commissioner of administration under AS 39.30.097(b) and shall be accounted for in accordance with regulations established by the commissioner.
   (c) Notwithstanding (b) of this section, the employer contribution for retiree major medical insurance for fiscal year 2007 shall be 1.75 percent of each member's compensation from July 1 to the following June 30.
   (d) An employer shall also make contributions to the health reimbursement arrangement plan under AS 39.30.370.
   (e) An employer shall make annual contributions to a trust account in the plan, applied as a percentage of each member's compensation from July 1 to the following June 30, in an amount determined by the board to be actuarially required to fully fund the cost of providing occupational disability and occupational death benefits under AS 39.35.700 - 39.35.990 and retirement benefits elected by disabled peace officers and firefighters under AS 39.35.890(h)(2). The contribution required under this subsection for peace officers and firefighters and the contribution required under this subsection for other employees shall be separately calculated based on the actuarially calculated costs for each group of employees.

Authorities

39.35.255;39.35.890;39.35.892;39.35.957

Notes

Recent Bills that will modify this

HB 90 PEACE OFFICER/FIREFIGHTER RETIREMENT
HB 113 PERS CREDIT/WORKERS COMP. POLICE & FIRE
SB 83 PEACE OFFICER/FIREFIGHTER RETIREMENT

References

15 AAC 112.800
AS 39.35.255 Contributions by employers.
AS 39.35.890 Occupational disability benefits and reemployment of disabled employees.
AS 39.35.892 Occupational death benefit.
AS 39.35.957 Designation of eligible employees, agreement to contribute, and amendment of participation.

History

(Sec. 122 ch 9 FSSLA 2005; am Sec. 84, 85 ch 20 SLA 2007; am Sec. 23 ch 13 SLA 2008)