AK SB79

Waives premium payments for major medical insurance under Alaska's defined benefit retirement plan for disabled peace officers with at least 20 years of credited service who became disabled between their 19th and 25th year of service.

Removes previous restrictions that required certain retirees to pay full monthly premiums based on age and years of service, consolidating exemptions into a single category for eligible disabled peace officers.

Maintains existing premium waiver eligibility for disabled members, disabled members appointed to normal retirement, and individuals age 60 or older with at least 10 years of credited service.

Applies retroactively to July 1, 2006, allowing eligible individuals to receive benefits dating back to that effective date.

Takes effect immediately upon enactment.