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HB 430: "An Act granting certain juvenile detention or juvenile correctional institution employees status as peace officers under the public employees' retirement system; and providing for an effective date."

00 HOUSE BILL NO. 430                                                                                                      
01 "An Act granting certain juvenile detention or juvenile correctional institution                                        
02 employees status as peace officers under the public employees' retirement system;                                       
03 and providing for an effective date."                                                                                   
04 BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF ALASKA:                                                                
05    * Section 1.  AS 39.35.680(28) is amended to read:                                                                   
06          (28)  "peace officer" or "fire fighter" means an employee occupying a                                         
07 position as a peace officer, chief of police, correctional officer, correctional                                        
08 superintendent, fire fighter, fire chief, or probation officer, or as a youth counselor,                               
09 unit leader, or superintendent in a juvenile detention or juvenile correctional                                         
10 institution;                                                                                                           
11    * Sec. 2.  An employee who was employed  as a youth counselor, unit leader, or                                       
12 superintendent at a juvenile detention or juvenile correctional institution in the public                               
13 employees' retirement system before the effective date of this Act may convert the credited                             
14 service for that position to credited service as a peace officer by claiming the service as peace                       
01 officer service before the member is appointed to retirement.  When the member claims this                              
02 retroactive credited service, an indebtedness of the member to the system shall be established.                         
03 The indebtedness is equal to (1) the contributions to the system that the member would have                             
04 made if the service had counted as peace officer service, less (2) the contributions to the                             
05 system that the member actually made.  Interest as prescribed by regulation accrues on this                             
06 indebtedness beginning July 1, 1996.  Any outstanding indebtedness that exists at the time the                          
07 member is appointed to retirement will require an actuarial adjustment to the benefits payable                          
08 based upon the converted credited service.                                                                              
09    * Sec. 3.  This Act takes effect immediately under AS 01.10.070(c).