Section 8 AAC 45.225 - Social security and pension or profit sharing plan offsets(a) An employer may reduce an employee's or beneficiary's weekly compensation under AS 23.30.225(a) by (1) getting a copy of the Social Security Administration's award letter showing the(A) employee or beneficiary is being paid retirement or survivor's benefits;(B) amount, month, and year of the initial entitlement; and(C) amount, month, and year of each dependent's initial entitlement;(2) computing the reduction using the employee's or beneficiary's initial Social Security entitlement, and excluding any cost-of-living adjustments; and(3) completing, filing with the board, and serving upon the employee or beneficiary a Compensation Report form showing the reduction and how it was computed, together with a copy of the Social Security Administration's award letter.(b) An employer may reduce an employee's weekly compensation under AS 23.30.225(b) by (1) getting a copy of the Social Security Administration's award showing the(A) employee is being paid disability benefits;(B) disability for which the benefits are paid;(C) amount, month, and year of the employee's initial entitlement; and(D) amount, month, and year of each dependent's initial entitlement;(2) computing the reduction using the employee or beneficiary's initial entitlement, excluding any cost-of-living adjustments;(3) completing, filing with the board, and serving upon the employee a petition requesting a board determination that the Social Security Administration is paying benefits as a result of the on-the-job injury; the petition must show how the reduction will be computed and be filed together with a copy of the Social Security Administration's award letter;(4) filing an affidavit of readiness for hearing in accordance with 8 AAC 45.070(b); and(5) after a hearing and an order by the board granting the reduction, completing a Compensation Report form showing the reduction, filing a copy with the board, and serving it upon the employee.(c) An employer may reduce benefits under AS 23.30.225(c) by (1) getting documentation of the pension or profit sharing payments;(2) computing the reduction in accordance with AS 23.30.225(c); and(3) completing a Compensation Report form showing how the reduction was computed, filing a copy with the board, and serving it upon the employee or beneficiary; the Compensation Report form must be filed together with a copy of the pension or profit sharing payment documents and wage documents showing that the employer's contributions to a qualified pension or profit sharing plan were included in the gross weekly earnings determination.(d) An employee or beneficiary who is receiving weekly compensation benefits shall (1) send the employer a copy of the award letter from the Social Security Administration or a copy of the first payment documents from a pension or profit sharing plan; and(2) upon the employer's request, sign a release for the employer to get information from the Social Security Administration or the pension or profit sharing plan.Eff. 7/2/98, Register 146Authority:AS 23.30.005
AS 23.30.225