Amendments Made to Teachers’
Retirement Law Effective July 1
Amendments enacted by the re
cent Alaska Legislature to the
Teachers’ Retirement law will go
into effect July 1, 1968, according
to Commissioner of Administra
tion Floyd Guertin.
The amendments, introduced at
the request of Gov. William A.
Egan, were evaluated and approv
ed by an actuarial firm together
with the Department of Adminis
tration.
They make five major changes
in the program:
One of these eliminates the pro
vision for compulsory retirement
at the age of 65. A teacher now
will be permitted to continue in
service with the consent of his
employer after reaching the age
of 65.
Another change permits a
teacher to retire after attaining
the age of 55 and completing 15
years of credited service, at
least 10 of which must have been
in Alaska. Previously, it has been
necessary that a teacher complete
25 years of service, including 15
in Alaska, to be eligible for re
tirement at 55.
The amendments also add a de
ferred retirment benefit provision
to the law for which a teacher
would be eligible if his age in
years and credited service total at
least 75 at the time of retirement.
Payment of the retirement annui
ty would not commence until the
individual’s 60th birthday. The
provision would be particularly
beneficial to the career Alaska
teacher who began his Alaska ser
vice at an early age and has met
his service requirements prior to
reaching 55.
The amendments also incorpor
ate a recommendation by the ac
tuaries that interest be added to
the arrearage indebtedness for
outside service credit to bring the
fund into closer actuarial balance.
The rate established in the amend
ment is 3% per year, compound
ed annually, to the date of pay'
ment or date of retirement, which
ever occurs first. The amendment
also obligates the State to match
the interest as well as arrearage
payments. All teachers will be no
tified of their arrearage indebted
nes prior to the effective date of
the amendment.
Other amendments permit cred
it as outside service for up to five
years of Bureau of Indian Affairs
teaching in Alaska in addition to
the present ten year maximum,
and increase the rate of interest
on reinstatement from 2c/< to 3%
a year to reflect the current earn
ings of the Retirement Fund.
NEW TO NOfcTH KENAI
SOLDOTNA — Guests in the
home of Mr. and Mrs. J. S. Smith
of Ciechanski Road (off Kalifon
sky Beach Road) this past Thurs
day and Friday were Mr. and
Mrs. Lindy Hammond and three
pre-school-age children, Jennie
Sue, Laurie and Danny. The Ham
mond family was in the process
of moving from Anchorage to
North Kenai, where he began
work Monday as one of the five
operators of the Chugach Electric
Company’s new Bernice Lake
power plant. Hammond has been
connected with Chugach Electric
for some time. He and Mrs. Smith
are cousins.
Dance Students
Featured in Two
P-TA Programs
Students of the Master Dance
Studio in Kenai, taught by Jean
(Mrs. Carl) Haller, were present
ed in recital at the Nikiski Par
ent-Teacher Assoc, meeting at
North Kenai School on May 10
and again Monday night at the
P-TA meeting at Kenai School.
Melanie Kipp, Sally Fisher, Jan
Hursh, Anne Corey, Terry Bord
ers and Cindy McCollum were
presented as “Kimona Kuties.”
“Spring Butterflies’’ were Karen
Gibson, Missy Thomason, Cindy
Robinson, Doneva Mullin, Vanessa
Kipp, Terry Thompson, Coline
Porter and Kerry Hudson. The
same group also was featured in
a number entitled “Marking
Time’’ later on in the program.
Janice Gibbs, as “Domino,” did
a solo number and was followed
by the “Pink and Blue Quartette”
consisting of Terri Thompson, Ro
bin Girves, Anna Porter and Tina
Hunter.
Arleane Graff, Robin Wade,
Debbie Poore, Laura Lahndt, Pa
mela Colyer, Gail Monigold and
Shelly Wisecarver were “Girl
Clowns.”
Following a “Clare de Lune”
medley number in which Janice
Gibbs, Sheryl House, B. K. Porter,
Kathy Gibson and Roxanne Col
yer were featured, the program
closed with the grande finale
“Alley Cat” in which all students
of the dance participated.
Alaska’s oil output is reported
now at approximately 29,000 bar
rels per day.
Days like this are made for Olympia
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