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AK SB11

AK SB11
Teachers & Pub Employee Retirement Plans


summary

Introduced
01/18/2023
In Committee
01/18/2023
Crossed Over
Passed
Dead
05/16/2024

Introduced Session

33rd Legislature

Bill Summary

AN ACT ENTITLED "An Act relating to restoration of tenure for certain disabled individuals; relating to the Public Employees' Retirement System of Alaska and the teachers' retirement system; providing certain employees an opportunity to choose between the defined benefit and defined contribution plans of the Public Employees' Retirement System of Alaska and the teachers' retirement system; and providing for an effective date."

AI Summary

This bill makes the following key provisions: This bill restores tenure rights for certain disabled teachers who have recovered from their disability or been rehabilitated, allows teachers and public employees who first joined the defined contribution retirement plan after June 2006 to elect to switch to the defined benefit retirement plan, and requires new disabled members to apply for and participate in vocational rehabilitation programs in order to continue receiving disability benefits. It also makes changes to the contribution rates and retiree healthcare premium payments for members of the teachers' and public employees' retirement systems. Employers that participate in the defined contribution retirement plans must also participate in the defined benefit plans.

Committee Categories

Business and Industry

Sponsors (1)

Last Action

REFERRED TO LABOR & COMMERCE (on 01/18/2023)

Bill Topics

Labor and Employment
  • ‐ Employee Benefits

bill text


bill summary

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bill summary

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bill summary

Document Type Source Location Created
State Bill Page https://www.akleg.gov/basis/Bill/Detail/33?Root=SB11 01/09/2023
BillText https://www.akleg.gov/PDF/33/Bills/SB0011A.PDF 01/09/2023
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