Alaska § 14.25.043 - Reemployment of retired members.

§ 14.25.043. Reemployment of retired members.

 (a) Except as provided in (f) of this section, if a retired member again becomes an active member, benefit payments may not be made during the period of reemployment. During the period of reemployment, deductions from the member's salary will be made in accordance with AS 14.25.050 .   (b) [Repealed, §?12 ch 57 SLA 2001 as amended by §?6 ch 15 SLA 2003 and §?10 ch 50 SLA 2005.]   (c) Except as provided in (f) of this section, upon subsequent retirement, the retired member is entitled to receive an additional benefit based on the credited service and the average base salary during the period of reemployment in accordance with AS 14.25.110 . If the initial benefit payments to which the retired member is eligible have been actuarially reduced because the member retired early under AS 14.25.110 (b), the member shall also receive an incremental benefit based on the amount of the actuarial reduction imposed by AS 14.25.110 (j) on the first benefit and the length of time that the employee was reemployed and not receiving retirement benefits. The amount of the incremental benefit is equal to the difference between the normal retirement benefit to which the member would have been entitled had the member taken a normal retirement and the early retirement benefit that the member has been receiving based on the member's initial period of employment multiplied by the total number of months that the member did not receive retirement benefits because of reemployment and that amount actuarially adjusted to be paid over the expected lifetime of the member.   (d) A member who retired under AS 14.25.110 (a) and participated in a retirement incentive program under ch. 26, SLA 1986; ch. 89, SLA 1989; ch. 65, SLA 1996; ch. 4, FSSLA 1996; or ch. 92, SLA 1997, who is subsequently reemployed as a commissioner may become an active member without losing the incentive credit provided under the applicable retirement incentive plan and is not subject to any related reemployment indebtedness.   (e) [Repealed, §?6 ch 15 SLA 2003 as amended by §?10 ch 50 SLA 2005.]   (f) If a member who retired under AS 14.25.110 (a) is reemployed by a school district under AS 14.20.136 ,        (1) the member does not become an active member;        (2) the member shall continue to receive retirement benefits from the plan as though the member were not reemployed by the school district;        (3) deductions from the member's salary may not be made under AS 14.25.050 ; and        (4) the member may not receive credited service in the plan during the period of reemployment.   (g) Notwithstanding (f) of this section, a member who is retired under AS 14.25.110 (a) and reemployed by a school district under AS 14.20.136 is eligible to receive the group health plan coverage provided to active members employed by that school district.