1. (a) The administrator shall determine the greater of the total base salaries required for calculation of employer contributions as the base salaries paid by the employer to active employees of the system, or the base salaries paid by the employer to employees who were active members of the system during the corresponding payroll period for the fiscal year ending June 30, 2008 on an annual basis.
2. (b) To make the determination under (a) of this section, total base salaries paid by the employer to active employees of the system will be adjusted to include salaries of positions terminated on or after July 1, 2008 for an employer that has terminated coverage of a department, group, or other classification of employees under AS 39.35.615. The adjustment will occur in the fiscal year of termination and in subsequent fiscal years.
3. (c) For purposes of AS 39.35.255(a)(1), payroll adjustments required by AS 39.35.520 and submitted by an employer will be applied in the fiscal year in which they were received.

(Eff. 7/7/2011, Register 199)

Authority: AS 39.35.003, AS 39.35.615, AS 39.35.625, AS 39.35.255, AS 39.35.620