(a) The amount of benefits payable to an insured worker for a week of unemployment which begins in a period for which the insured worker receives a pension, retirement or retired pay, annuity, or similar periodic payment that is based on the previous work of the insured worker shall be reduced by the amount of the payment that is attributable to that week. The requirements of this subsection apply only if

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Terms Used In Alaska Statutes 23.20.362

  • Annuity: A periodic (usually annual) payment of a fixed sum of money for either the life of the recipient or for a fixed number of years. A series of payments under a contract from an insurance company, a trust company, or an individual. Annuity payments are made at regular intervals over a period of more than one full year.
  • base period: means the first four of the last five completed calendar quarters immediately preceding the first day of an individual's benefit year, except that, if an individual would not otherwise be eligible for unemployment compensation because of the use of a base period that does not include the most recently completed calendar quarter immediately preceding the first day of an individual's benefit year, "base period" means, and eligibility shall be determined using, the four most recently completed calendar quarters before the start of the benefit year. See Alaska Statutes 23.20.520
  • benefits: means the money payments payable to an individual, as provided in this chapter with respect to the individual's unemployment. See Alaska Statutes 23.20.520
  • Dismissal: The dropping of a case by the judge without further consideration or hearing. Source:
  • employer: means (A) an employing unit which for some portion of a day within the calendar year has or had in employment one or more individuals. See Alaska Statutes 23.20.520
  • employment: includes services described in this subparagraph and (A) of this paragraph only if
    (i) the contract of service contemplates that substantially all of the services are to be performed personally by the individual. See Alaska Statutes 23.20.525
  • insured worker: means an individual who, with respect to a base period, meets the wage and employment requirements of Alaska Stat. See Alaska Statutes 23.20.520
  • wages: means all remuneration for service from whatever source, including insured work, noninsured work, or self-employment. See Alaska Statutes 23.20.530
  • week: means the period of seven consecutive days which the department may by regulations prescribe. See Alaska Statutes 23.20.520
(1) the pension, retirement or retired pay, annuity, or similar periodic payment is provided under a plan maintained or contributed to by an employer of the insured worker during the base period of the insured worker; and
(2) for a periodic payment other than a payment made under the Social Security Act, the Railroad Retirement Act of 1974, or earlier versions of those federal laws, the service performed for an employer by an insured worker after the beginning of the base period or remuneration for those services affects eligibility for, or increases the amount of the pension, retirement or retired pay, annuity, or similar periodic payment.
(b) The reduction of benefits provided in (a) of this section does not apply to that part, if any, of a pension, retirement or retired pay, annuity, or similar periodic payment that is attributable to contributions of the insured worker.
(c) The amount of benefits payable to an insured worker for a week of unemployment shall be reduced by the amount of any severance or termination payment, wages in lieu of dismissal notice, or payment for vacation, sick leave, or holidays that is attributable to that week.
(d) An individual is not entitled to benefits for a week of unemployment for which the individual has received or is seeking unemployment benefits under another employment security law in a manner other than in accordance with the reciprocal arrangements with other states or the federal government. This subsection does not apply if the appropriate agency finally determines that the individual is not entitled to benefits under the other law.
(e) If, after a reduction of the benefit amount under (a) or (c) of this section, the weekly benefit amount is not a multiple of $1, the benefit amount shall be increased to the next higher multiple of $1.
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