Alaska § 14.40.661 - Authority of board.
Full text of Alaska Alaska Statutes § 14.40.661 — Authority of board., with citation guidance and answers to common questions.
§ 14.40.661. Authority of board.
(a) The board may establish and maintain university retirement programs for eligible employees in which retirement and death benefits are provided through the purchase of annuity contracts, either fixed, variable, or a combination of fixed and variable. Participation in a university retirement program is in place of participation in a state retirement system. The university may establish retirement programs for new employees in a participating position at any time. Retirement programs must be optional.
(b) The board shall (1) provide for the administration of the retirement programs, including procedures for resolving complaints from participating employees;
(2) designate the company or companies to which payment of the contributions required under AS 14.40.691 may be made, after considering the (A) nature and extent of the rights and benefits that the contracts will provide to employees who elect to participate and to their beneficiaries;
(B) relation of the contractual rights and benefits to the contributions to be made under AS 14.40.661 — 14.40.799;
(C) suitability of the contractual rights and benefits to the needs and interests of employees who participate and to the interest of the university in the employment and retention of employees;
(D) ability of the designated company or companies to provide rights and benefits under the contracts; and
(E) efficacy of the contracts in the recruitment and retention of faculty and administrators;
(3) take other actions required to ensure that the retirement programs comply with applicable provisions of 26 U.S.C. 401 — 417 (Internal Revenue Code).
Source: official Alaska text · Last verified 2026-08-27
Frequently Asked Questions About Alaska § 14.40.661
What does Alaska Statutes § 14.40.661 cover?
Section 14.40.661 ("Authority of board.") is part of the Alaska Statutes, the codified statutory law of Alaska. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Alaska § 14.40.661?
A common citation format is "Alaska Statutes § 14.40.661" (Alaska). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Alaska law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Alaska official source linked on this page or consult a licensed Alaska attorney.
How does Alaska § 14.40.661 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Alaska can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Alaska.