Home Page You will need Adobe Acrobat Reader to download, view, or print these files. You must have at least 20 years of combined Alaska guard service, guard service in any other state, active military service and the reserves of them, of which at least 5 years must have been satisfactory service in any branch of the Alaska guard. Under the accelerated payment option, if you would attain age 72 prior to completion of the 20 years and you elected this option, the monthly payments would be increased but would end when you attained age 72.
All payments are taxable as ordinary income.
You may elect to have your lump sum rolled over to a qualified Individual Retirement Account of your choice and avoid taxes or tax penalties. The full remaining balance of your monthly payments is paid in one lump sum to your beneficiary or beneficiaries.