summary
Introduced
01/31/2025
01/31/2025
In Committee
02/02/2026
02/02/2026
Crossed Over
05/12/2025
05/12/2025
Passed
Dead
Introduced Session
34th Legislature
Bill Summary
An Act relating to the public employees' retirement system and the teachers' retirement system; and providing certain employees an opportunity to choose between the defined benefit and defined contribution plans of the public employees' retirement system and the teachers' retirement system.
AI Summary
This bill allows certain public employees and teachers in Alaska to choose between a defined benefit retirement plan, which provides a guaranteed income for life, and a defined contribution retirement plan, where retirement income depends on investment performance. It provides a window for individuals who joined either the Public Employees' Retirement System (PERS) or the Teachers' Retirement System (TRS) after June 30, 2006, and before July 1, 2026, to switch from the defined contribution plan back to the defined benefit plan, provided they meet certain conditions, such as not having withdrawn their entire account balance. The bill also makes various adjustments to contribution rates, retirement eligibility, and medical benefits for different groups of members within both systems, and clarifies rules regarding health reimbursement arrangements and the prefunding of medical benefits.
Committee Categories
Budget and Finance, Business and Industry
Sponsors (0)
No sponsors listed
Other Sponsors (1)
Finance (House)
Last Action
Senate Finance Hearing (13:30:00 2/9/2026 Senate Finance 532) (on 02/09/2026)
Official Document
bill text
bill summary
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bill summary
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bill summary
| Document Type | Source Location |
|---|---|
| State Bill Page | https://www.akleg.gov/basis/Bill/Detail/34?Root=HB78 |
| BillText | https://www.akleg.gov/PDF/34/Bills/HB0078D.PDF |
| BillText | https://www.akleg.gov/PDF/34/Bills/HB0078C.PDF |
| BillText | https://www.akleg.gov/PDF/34/F/HB0078-1-2-050925-ADM-Y.PDF |
| BillText | https://www.akleg.gov/PDF/34/Bills/HB0078B.PDF |
| BillText | https://www.akleg.gov/PDF/34/Bills/HB0078A.PDF |
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