AK HB340

Amends AS 22.25.020 to change the calculation date for judicial retirement pay from the time each retirement payment is made to the date a justice or judge was appointed to retirement.

Retirement pay is calculated at five percent per year of service to a maximum of 75 percent of the monthly salary authorized for the justice or judge on the date of retirement appointment.

The amendment applies only to justices and judges first employed in the judicial retirement system on or after the effective date of the Act.

Takes effect immediately upon passage under AS 01.10.070(c).