A proposed bill would make Alaska the gold standard in defined contribution retirement plans for public workers

In Politics by Michael Rae

Two competing public employee pension bills reached the Alaska House of Representatives last week. One would revert Alaska back to a fiscally unsustainable public pension plan that adds to the state’s debts, while the other would maintain important reforms and even allow the state’s teachers to access a better, more flexible retirement plan.

Senate Bill 88 (SB 88), sponsored by and passed out by the Alaska Senate Republican Caucus, would reopen the defined benefit (DB) pension plan closed in 2005 for public employees, teachers, and public safety personnel. An opposing proposal, House Bill 302 (HB 302), sponsored by Rep. Ben Carpenter

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