Section 2.35.230. Defined benefit and defined contribution employee eligibility for medical benefits after employer termination.

	(a)  A non-vested defined benefit employee of an employer terminating participation under AS 39.35.620 who has elected to be fully vested is eligible for retirement benefits under AS 39.35.370 regardless of the requirement for at least five years of credited service. An employee who first entered the plan on or after July 1, 1996 is not  vested in medical benefits under AS 39.35.535 unless the member has 10 years of credited service.  
	(b)  A non-vested defined contribution employee of an employer terminating participation under AS 39.35.958 is considered fully vested in the employer contributions under AS 39.35.790 and in the employee contributions under AS 39.35.730. The employee is not vested in medical benefits under AS 39.35.880 or the health reimbursement arrangement under AS 39.30.390.  
	(c)  A vested defined contribution employee of an employer terminating participation under AS 39.35.958 is not vested in medical benefits under AS 39.35.880 or the health reimbursement arrangement under AS 39.30.390 unless the employee meets the eligibility requirements of AS 39.35.870.  

Authorities

39.30.390;39.35.003;39.35.535;39.35.620;39.35.870;39.35.880

Notes

Authority

AS 39.30.390 AS 39.35.003 AS 39.35.535 AS 39.35.620 AS 39.35.870 AS 39.35.880

History

Eff. 1/13/2010, Register 193