(a) Except as provided in Alaska Stat. § 29.45.030(a)(1) or in (c) of this section, member contributions and other amounts held in the plan on behalf of a member or other person who is or may become eligible for benefits under the plan are exempt from Alaska state and municipal taxes and are not subject to anticipation, alienation, sale, transfer, assignment, pledge, encumbrance, or charge of any kind, either voluntary or involuntary, before they are received by the person entitled to the amount under the terms of the plan. Any attempt to anticipate, alienate, sell, transfer, assign, pledge, encumber, charge, or otherwise dispose of any right to amounts accrued in the plan is void. However, a member’s right to receive benefits or the member contribution account may be assigned

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Terms Used In Alaska Statutes 14.25.200

  • Garnishment: Generally, garnishment is a court proceeding in which a creditor asks a court to order a third party who owes money to the debtor or otherwise holds assets belonging to the debtor to turn over to the creditor any of the debtor
  • person: includes a corporation, company, partnership, firm, association, organization, business trust, or society, as well as a natural person. See Alaska Statutes 01.10.060
  • state: means the State of Alaska unless applied to the different parts of the United States and in the latter case it includes the District of Columbia and the territories. See Alaska Statutes 01.10.060
(1) under a qualified domestic relations order;
(2) to a trust or similar legal device that meets the requirements for a Medicaid-qualifying trust under Alaska Stat. § 47.07.020(f) and 42 U.S.C. § 1396p(d)(4); or
(3) as provided in (c) of this section.
(b) Member contributions and other amounts held in the plan and benefits payable under Alaska Stat. § 14.25.009 – 14.25.220 are exempt from garnishment, execution, or levy as provided in Alaska Stat. Chapter 09.38 (exemptions).
(c) An inactive member may elect to have the taxable portion of the member contribution account transferred directly to another plan or an individual retirement arrangement that is qualified under the federal Internal Revenue Code and that accepts the transfer.
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