Alaska Bill Seeks to Revive Defined Benefit Pension

Source: Chief Investment Officer State senators in Alaska have introduced a bipartisan bill that would create a new defined benefit pension system for state employees as a way help address a nearly 20% vacancy rate for state jobs. Alaska’s previous defined benefit retirement system was abolished by state legislators in 2006 and replaced with a defined contribution plan. Senate Bill 88 would restore a defined benefit plan for new workers and allow current employees to choose between the new [...]