The bill amends Alaska's retirement benefits law to provide greater flexibility for terminated employees seeking normal retirement benefits. Specifically, it removes the previous requirement that employees must be at least 60 years old to qualify for retirement benefits after five years of credited service. Instead, the bill allows terminated employees to retire at any age if they have at least five years of credited service and are veterans rated by the United States Department of Veterans Affairs as permanently and totally disabled due to a service-connected condition.

Additionally, the bill maintains the existing criteria for retirement benefits based on years of credited service for peace officers, firefighters, and other employees, while repealing certain sections of the law that may be outdated or redundant. This legislative change aims to enhance the retirement options available to veterans and promote fairness in the retirement system for all employees.

Statutes affected:
HB0017A, AM HB 17, introduced 01/10/2025: 39.35.370