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Session: State Capitol, Room 501 Juneau, AK 99801-1182 Phone: (907) 465-4843 Fax: (907) 465-3871 Send E-Mail Interim: 716 West 4th Avenue Anchorage, AK 99501 Phone: (907) 269-0181 Fax: (907) 269-0184 |
An Act relating to credited service in the teachers' retirement system for part-time employment.
Updated: February 10, 2000.
The purpose of HB 236 is to correct an inequity in the teachers retirement system. Under the current system teachers working more than 50% of the time, but less than full time, receive only one-half service credit for time worked. In other words, teachers in this group contribute more retirement dollars, but do not get a retirement benefit consistent with their contribution.
HB 236 will correct the inequity in the TERS system by giving teachers, who work more than 50% of the time, but less than full time, retirement service credit based on time worked.