(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.
Structure Alaska Statutes
Title 39. Public Officers and Employees
Chapter 35. Public Employees' Retirement System of Alaska
Article 10. Employees First Hired on or after July 1, 2006.
Sec. 39.35.700. Applicability of AS 39.35.700 - 39.35.990.
Sec. 39.35.725. Participation of elected officials of political subdivisions.
Sec. 39.35.730. Contributions by members.
Sec. 39.35.740. Employment contributions mandatory.
Sec. 39.35.750. Contributions by employers.
Sec. 39.35.760. Rollover contributions and distributions.
Sec. 39.35.770. Transmittal of contributions; claims against funds of an employer.
Sec. 39.35.780. Limitations on contributions and benefits.
Sec. 39.35.800. Investment of individual accounts.
Sec. 39.35.810. Distribution election at termination.
Sec. 39.35.820. Forms of distribution.
Sec. 39.35.830. Manner of electing distributions.
Sec. 39.35.840. Distribution requirements.
Sec. 39.35.850. Designation of beneficiary.
Sec. 39.35.860. Rights under qualified domestic relations order.
Sec. 39.35.870. Eligibility for retirement and medical benefits.
Sec. 39.35.880. Medical benefits.
Sec. 39.35.890. Occupational disability benefits and reemployment of disabled employees.
Sec. 39.35.892. Occupational death benefit.
Sec. 39.35.893. Survivor's pension adjustment.
Sec. 39.35.895. Amendment and termination of plan.
Sec. 39.35.900. Exclusive benefit.
Sec. 39.35.910. Nonguarantee of returns, rates, or benefit amounts.
Sec. 39.35.920. Nonguarantee of employment.
Sec. 39.35.932. Pension forfeiture.
Sec. 39.35.950. Request by political subdivision to participate and adoption of resolution.
Sec. 39.35.955. Request by public organization to participate and adoption of resolution.
Sec. 39.35.956. Contractors and employees of contractors excluded from plan.
Sec. 39.35.958. Termination of participation in the plan.
Sec. 39.35.960. Membership in teachers' and public employees' retirement systems.
Sec. 39.35.965. Army and air national guard employees.
Sec. 39.35.970. North Pacific Fishery Management Council employees.
Sec. 39.35.972. Special rules for treatment of qualified military service.