2 AAC 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.
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
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