Alaska Lawmakers Revive Public Worker Pensions

Alaska lawmakers just pushed through a big move on public worker pensions.

The House approved a revised bill by a vote of 21 to 19, right after the Senate passed

it 12 to 8.

This revives a defined benefit retirement system scrapped back in 2006, and now it heads

to Governor Mike Dunlevy for his call.

The plan opens up to all state employees, teachers, public safety folks, and even city

and borough workers.

Old bosses get six months from January to join or skip out, with the whole thing kicking

off in July 2027.

Retirement hits at age 60 with 30 years for teachers and public staff, or age 50 with

25 years for cops and firefighters.

Earlier this week, Senate leader Kathy Gassel called it a modest, secure setup after 20 years

of grinding.

House Majority Leader Chuck Copp, who carried the bill, says talks with the governor's

team have him encouraged.

He stressed it's built fresh to dodge high turnover and service strains.

Proponents built in safeguards, like adjustable contributions, triple actuary checks, and

no health insurance to avoid the old system's billion dollar.

Messed from bad math, settled for 500 million, but still paying till 2039.

A small health fund tops up Medicare at 3% of teacher pay and 4% for others.

Meanwhile, the all-republic and house minority blocked the fast effect of date, needing

two-thirds approval, so it might drag under constitutional.

Rules.

With 21 days left in session, the governor has 15 days excluding Sundays to sign, veto,

or let it ride eyes on that big red pin.

That's the story for today.

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