2 Alaska Admin. Code § 35.300
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.
2 AAC 35.300
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.
Authority:AS 39.35.003
AS 39.35.200