An Act establishing the Alaska Work and Save Program for employees who do not have access to a qualified retirement savings plan at work; relating to the duties of the commissioner of labor and workforce development; and providing for an effective date.

Summary

The bill establishes the Alaska Work and Save Program, a retirement savings option for workers whose employers do not offer a qualified plan. It also modifies the permanent fund dividend application so filers can direct part of their dividend to this new program, to charitable causes, or to other state funds. The Department of Revenue will run the program, handle contributions, and charge a small administrative fee.

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