AK SB79

Creates a new statute allowing school districts to reemploy members retired under Alaska's teachers' retirement system.

Retired members must wait at least 3 months before reemployment if age 62 or older, or 1 year if younger than 62.

Reemployed retired members continue receiving retirement benefits without suspension and do not become active members, but do not receive credited service during reemployment.

School districts must make employer contributions at 12.56 percent rate for reemployed retired members, the same as for active members.

Provisions apply to contracts made on or after the effective date of the Act.