alaska

Statement on Efforts in Alaska to Restore Pension Benefits to Address Grave Workforce Shortage

Source: National Institute on Retirement Security In response to the veto of bipartisan legislation passed by the Alaska legislature to provide defined benefit pensions to Alaska’s public employees, the National Institute on Retirement Security issued the following statement today from Dan Doonan, NIRS executive director: “Alaska’s effort to restore a pension plan for public workers represents meaningful progress in addressing one of the state’s most pressing challenges: attracting and retaining a stable, experienced public workforce. While Governor Dunleavy has [...]

CORPaTH2026-05-20T16:02:53-07:00May 20th, 2026|Categories: Pension Funding|Tags: alaska|

Statement on Efforts in Alaska to Restore Pension Benefits to Address Grave Workforce Shortage

Source: National Institute on Retirement Security In response to the veto of bipartisan legislation passed by the Alaska legislature to provide defined benefit pensions to Alaska’s public employees, the National Institute on Retirement Security (NIRS) issued the following statement today from Dan Doonan, NIRS executive director: “Alaska’s effort to restore a pension plan for public workers represents meaningful progress in addressing one of the state’s most pressing challenges: attracting and retaining a stable, experienced public workforce. While Governor Dunleavy [...]

CORPaTH2026-05-27T10:39:05-07:00May 19th, 2026|Categories: Pension Funding|Tags: alaska, DB Plans|

House and Senate Approve Pension Retirement Plan

Source: Alaskan Culture Daily This week, the Legislature passed House Bill 78 to establish a pension retirement plan for public employees. The Senate Judiciary Committee also passed a consolidated crime bill that includes legislative priorities to improve public safety. Yesterday, the Governor vetoed the elections bill. On Tuesday and Wednesday, the House and Senate passed House Bill 78 to establish a defined benefit, pension retirement plan. HB 78 is bipartisan legislation that will create a new pension system for public [...]

CORPaTH2026-05-04T16:13:29-07:00May 4th, 2026|Categories: Retirement|Tags: alaska, retirement|

Senate Bill 55 would complete retirement benefits for Alaska teachers

By Leonard Gilroy and Zachary Christensen Source: Reason Foundation Alaska’s government employees do not participate in Social Security, which leaves a significant gap in retirement benefits. Most of the state’s government workers participate in the Alaska Supplemental Annuity Plan (SBS-AP), which more than replaces the benefits they would have received under Social Security. School employers, however, do not offer this benefit, leaving teachers at significant risk of inadequate savings for retirement. Senate Bill 55 (SB 55) aims to address [...]

CORPaTH2026-04-17T10:57:41-07:00April 17th, 2026|Categories: Retirement|Tags: alaska, teachers|

A strong Alaska requires a strong public workforce aided by a defined benefits plan

By Bronson Fyre Source: Anchorage Daily News Alaska has always depended on people who are willing to commit their lives to this place — to raise families here, build communities here and serve the public good. But today, too many of the institutions that make Alaska work are struggling to hold onto the people who keep them running. Our schools are losing teachers faster than they can replace them. Police and fire departments are struggling to fill positions. Across [...]

CORPaTH2026-03-18T08:58:11-07:00March 14th, 2026|Categories: Defined Benefit Plans, Economy|Tags: alaska, DB Plans|

We built the pipeline. We can build stability.

Source: ADN.com A recent Anchorage Daily News editorial argues that House Bill 78 is “a pension promise we can’t afford.” That conclusion rests on a misunderstanding of how this bill is structured — and what Alaska is already paying because of the system we have now. Alaska runs on people who stay. Engineers who understand permafrost. Fisheries managers who know the runs. Troopers who know their communities. Teachers who build careers in the same district. Institutional knowledge is operational [...]

CORPaTH2026-03-04T16:31:35-08:00February 17th, 2026|Categories: Defined Benefit Plans|Tags: alaska|

A Major Step Forward: Alaska’s House Passes HB 78

By Ariel McConnell Source: National Public Pension Coalition After nearly two decades without a defined benefit pension system for public employees, Alaska is one step closer to reversing course. On May 12, 2025, the Alaska House of Representatives passed House Bill 78 —a historic move toward restoring secure retirement benefits for public servants across the state. The final vote was 21-19. The bill has now been transmitted to the Senate. This victory follows months of growing momentum, public support, [...]

CORPaTH2025-05-14T09:56:07-07:00May 14th, 2025|Categories: Defined Benefit Plans|Tags: alaska, DB Plans|

Alaska’s Pension Reform Faces Another Delay

Source: National Public Pension Coalition Last week in Alaska, Senate Majority Leader Cathy Giessel and House Majority Leader Chuck Kopp signalled that passage of a bill restoring a defined benefit pension for Alaska public employees was unlikely to pass both chambers before the 2025 legislative session ends next month. A piece from the Anchorage Daily News noted that last year, the Senate adopted Leader Giessel’s bill only to have it get stuck in the previously conservative-controlled House. This time, [...]

CORPaTH2025-04-30T16:35:27-07:00April 24th, 2025|Categories: Pension Reform|Tags: alaska, Pension Reform|

Faced with recruiting crisis, Alaska mulls reopening of 2 pension plans

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 [...]

CORPaTH2024-02-14T10:02:21-08:00February 14th, 2024|Categories: Pension Funding|Tags: alaska, DB Plans|

Alaska Senate passes new pension program for state employees, but final approval is in question

By James Brooks Source: Alaska Beacon The Alaska Senate on Wednesday approved legislation to revive a pension program for state employees, an act that could bring new benefits to as many as 37,000 Alaskans and is intended to ease a chronic employee shortage at state agencies. Alaska has been without a public-employee pension program for new workers since 2006, when the Alaska Legislature abolished it in favor of a 401(k)-like program in which benefits are not guaranteed. Subsequent data [...]

CORPaTH2024-02-02T14:05:16-08:00January 31st, 2024|Categories: Defined Benefit Plans|Tags: alaska, alaska legislature, pension program|

How different types of pension plans impact employee recruitment, retention

Source: Benefits Canada When Alaska switched its public education employees from two defined benefit pension plans to a 401(k)-style defined contribution plan, more staff left their positions, according to a new report by the National Institute on Retirement Security. The report benchmarks retirement benefit offerings among state-level plans in Alaska and nationwide, analyzing the evolution of public pension plans since the 2008/09 financial crisis. In 2005, the Alaska legislature voted to close its two statewide DB plans for teachers and [...]

CORPaTH2023-06-16T10:36:03-07:00June 13th, 2023|Categories: 401(k)|Tags: 401(k), alaska|

NIRS to hold webinar on Alaska’s experience moving public employees from pensions to defined contribution plans

Source: National Institute on Retirement Security Please join us for a webinar on Monday, June 12, 2023, at 2:00 PM ET, Alaska's Experience Moving Public Employees from Pensions to Defined Contribution Plans. Click here to register. In 2005, Alaska closed its two statewide defined benefit pension plans for teachers and public employees. Since July 1, 2006, all new Alaska hires participate in a defined contribution plan rather than a pension plan. The retirement plan change has had the unintended [...]

CORPaTH2023-06-07T13:00:40-07:00June 7th, 2023|Categories: Retirement|Tags: alaska, DB Plans, DC Plans|

Alaska Teacher Recruitment and Retention Study: Options and Analysis Supporting Retirement Plan Design

Source: National Institute on Retirement Security A report delivered to the Alaska Department of Education reviews the impacts of various retirement benefit offerings on the recruitment and retention of Alaska’s public education employees. Alaska Teacher Recruitment and Retention Study: Options and Analysis Supporting Retirement Plan Design, finds that switching Alaska’s public employees from defined benefit pension plans to 401(k)-style defined contribution accounts resulted in more public educators leaving their positions. The research comes as teacher shortages plague Alaska and [...]

CORPaTH2023-05-03T13:42:44-07:00April 28th, 2023|Categories: Retirement|Tags: alaska, public education employees|

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 [...]

CORPaTH2023-03-13T11:54:15-07:00March 10th, 2023|Categories: Defined Benefit Plans|Tags: alaska, alaska senate bill 88|