Senate Bill 245 Sectional Analysis "An Act relating to retirement contributions and benefits under the public employees' retirement system of certain harbor officers."
Click for PDF: http://www.akdemocrats.org/sponsor/SB245_analysis_sen_elton.pdfSection 1. For purposes of the employee contribution rate, harbor officers are added to the same subsection as peace officers and fire fighters in the Public Employees Retirement System (PERS).
Section 2. Adds harbor officers to the group of employees who mare retire with 20 years of service for a normal retirement benefit.
Section 3. Adds harbor officers to the subsection which calculates the monthly amount of the retirement benefit for peace officers and fire fighters.
Section 4. Provides harbor officers with the same kind of retirement benefit provisions as peace officers and fire fighters. This subsection is for the situation where a person suffers a greater than one third permanent disability and continues to work for a PERS employer, but not as a police officer, fire fighter or harbor officer. That person can still get normal retirement after 20 years of service.
Section 5. Allows harbor officers to opt out of the enhanced retirement status that is provided in PERS to peace officers, fire fighters and harbor officers.
Section 6. Adds a definition for "hazardous duty status" to include peace officers, fire fighters and harbor officers for PERS purposes.
Section 7. Defines harbor officer.
Section 8.This uncodified section of law allows certain persons who have past service as harbor officers to convert that service to credited under this Act.
Extras: SB245 Sponsor Statement