New regulations for those planning to retire with PERS or TRS benefits after Oct. 1

August 25, 2017

The State of Alaska Division of Retirement and Benefits is drafting new regulations that will affect retirees who retire on or after Oct. 1, 2017. If you are planning to retire with PERS or TRS benefits, please read the article below regarding complete separation of employment.

“Now, federal laws that govern the plans’ eligibility for preferred tax treatment restricts re-employment into positions that are not covered by the retirement systems, such as temporary, nonpermanent positions, project or independent contractor work, and substitute teaching, with the same employer,” and there must be a complete break in service of at least six months.

Read more here: https://content.govdelivery.com/accounts/AKDOA/bulletins/1b1b962

Draft regulations will be available to allow for a 30-day comment period. This notice is to provide additional time to examine succession-planning methods for replacing key workers eligible for retirement before the effective date of the regulations.

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