Section 2.35.300. Refunds of payments applied toward indebtedness.

Latest version.

When computing a retirement benefit for a member who has an outstanding indebtedness balance, if the division of retirement and benefits determines that the adjusted retirement benefit using the credited service gained from establishing the indebtedness is less than the benefit would have been had the additional service not been claimed, the division shall refund all indebtedness payments, plus accrued interest, upon payment of benefits only.

Authorities

39.35.003;39.35.200

Notes

Authority
 AS 39.35.003  
AS 39.35.200  
Editor's note: Effective 7/20/2006, Register 179, the Department of Administration readopted 2 AAC 35.300, without change, to affirm the validity of that section following statutory amendments made in ch. 9, FSSLA 2005. Chapter 9, FSSLA 2005 eliminated the Public Employees' Retirement Board, and largely transferred the board's authority to adopt regulations in 2 AAC 35 to the commissioner of administration.  
History Eff. 12/3/84, Register 93; readopt 7/20/2006, Register 179

References

2.35.300;2.35

                    
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