Sec. 22.25.900. Definitions.

366 words·~2 min read·/ak/title-22/chapter-25/22-25-900

A research copy — for the controlling text, always check the official state or federal source. Not legal advice.

In this chapter, unless the context otherwise requires,

(1)“actuarial equivalent” means the adjustment necessary to obtain equality in value of the aggregate expected payments under two different forms of pension payments, considering expected mortality and interest earnings on the basis of assumptions, factors, and methods specified in regulations issued under the system that are formally adopted by the Alaska Retirement Management Board that clearly preclude employer discretion in the determination of the amount of any justice's, judge's, or member's benefit;

(2)“judge” means a judge of the court of appeals, a superior court judge, or a district court judge;

(3)“justice” means a supreme court justice;

(4)“member” means an administrative director of the Alaska Court System who is eligible to participate in the system, a justice, or a judge;

(5)“qualified domestic relations order” means a divorce or dissolution judgment under AS 25.24 , including an order approving a property settlement, that

(A)creates or recognizes the existence of an alternate payee's right to, or assigns to an alternate payee the right to, receive all or a portion of the member contributions and interest or benefits payable with respect to a justice or judge;

(B)sets out the name and last known mailing address, if any, of the justice or judge and of each alternate payee covered by the order;

(C)sets out the amount or percentage of the justice's or judge's benefit, or of any survivor's benefit, to be paid to the alternate payee, or sets out the manner in which that amount or percentage is to be determined;

(D)sets out the number of payments or period to which the order applies;

(E)sets out the plan to which the order applies;

(F)does not require any type or form of benefit or any option not otherwise provided by this chapter;

(G)does not require an increase of benefits in excess of the amount provided by this chapter, determined on the basis of actuarial value;

(H)does not require the payment, to an alternate payee, of benefits that are required to be paid to another alternate payee under another order previously determined to be a qualified domestic relations order.