By Rob Kozlowski
Source: Pensions & Investments

Nearly two decades after the Alaska Legislature closed the state’s two defined benefit plans for public employees and teachers, the state is closer than ever to reopening those plans as it faces a recruitment and retention crisis for general employees, teachers and public safety officials.

While the bill has passed the Alaska Senate, expectations are muted regarding its chances in the conservative-controlled House of Representatives due to concerns about costs, although an analysis commissioned from notable economics professor Teresa Ghilarducci shows the state could save $76 million annually by reopening the DB plans.

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