Bona Fide Termination Rule
The State of Alaska has implemented a new regulation affecting what it means to terminate employment. This could affect you if you desire future employment on a temporary basis (including adjunct faculty) with the University. This new regulation refers to bona fide separation of employment and pre-arranged return to work agreements, and is effective for PERS and TRS members retiring on or after January 1, 2018.
In the simplest terms, this means that to be considered a bona fide termination, a retiree may not return to work in any capacity with the same employer from which they retired for at least 6 months if they are under age 62 at retirement, or 60 days if they are age 62 or older. In addition, there can be no pre-arranged return to work agreement at the time of termination. This means you can't have a future job, contract or agreement to work part time, teach a class or work on a grant.
Details on this regulation can be found on the State of Alaska Division of Retirement and Benefits web site. Please review the Retiree Return to Work Policy, the Violation Procedures and the Frequently Asked Questions, all found on that site.
If you have questions about how this could affect you and your retirement, please contact the Division of Retirement at (800) 821-2251.