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ERS is required for all permanent employees of the State of Alaska, and all employees of political subdivisions in the state that participate in the PERS.7 Elected officials automatically becomes PERS members unless an elected official waives participation.8

Vesting occurs in the TRS at the point of eight paidup years of membership service, or the equivalent if parttime service is involved.9 Vesting occurs in the PERS at the point of five paidup years of membership service.10 Once vested, each pension plan permits members to terminate qualifying employment

and still receive monthly retirement benefits at the member's retirement age.

Both pension plans provide for leavewithoutpay credit.11 For the TRS, leavewithoutpay must be employer approved.12 For the PERS, leavewithoutpay must be associated with occupational injury or illness.13

In the TRS, service credit is allowed for both outofstate and private school teaching.14 Both the TRS and the PERS allow service credit for a variety of additional factors, such as military service.15

In the TRS, retirement may begin at age 55 for individuals whose TRS membership predated 1 July 1990.16 For all other TRS members, normal retirement may begin at age 60, while early retirement may begin at age 55.17 Benefits are reduced under the early retirement option.18 TRS members may retire at any age without a reduction of benefits with 20 years of paidup service in the TRS.19

11Alaska Teachers', 1011; Alaska Public, 1819.

15Alaska Teachers', 1021; Alaska Public, 918.

 In the PERS, retirement may begin at age 55 for individuals whose PERS membership predated 1 July 1986; for all other PERS members, normal retirement may begin at age 60, while early retirement may begin at age 55.20 Benefits are reduced under the early retirement option.21 Any PERS members may retire at any age without a reduction of benefits with 30 years of paidup service (20 years in...