What's New at AKPFFA A-02
House Bill 116 (HB 116) was passed by the Alaska Legislature on April 18, 2014, and signed into law by Governor Parnell on July 11, 2014. This bill provides additional benefits under AS 39.35.340 to peace officers and firefighters who previously served in the military, and are members of the Public Employees’ Retirement System Defined Benefit Plan (PERS DB),
Prior to HB 116, qualifying members could purchase up to 5 years of military service credit only to increase their retirement benefit. However, under HB 116, qualifying members may now also claim up to 5 years of military service in order to qualify for premium-free retiree medical benefits. Claimed military service may not be used to satisfy the credited service requirements for normal retirement.
Attached to this article is a FAQ document to assist with your understanding:
Download: HB 116 FAQs.pdf
You can find out more info at www.justifyit.org
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