An Act relating to the public employees' retirement system and the teachers' retirement system; and providing certain employees an opportunity to choose between the defined benefit and defined contribution plans of the public employees' retirement system and the teachers' retirement system.

Summary

The measure revises Alaska retirement statutes so qualified teachers and other public workers can elect either the traditional defined‑benefit pension or a defined‑contribution plan. It defines who can opt in, how the election is made, and limits creditable service for those who leave the pension. The goal is to give workers more flexibility in how they save for retirement.

AI-generated summary — may be incomplete or inaccurate. Verify against the official bill text.

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