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2008 Alaska Attorney General Reports and Opinions 1 (2008)

handle is hein.sag/sagak0013 and id is 1 raw text is: TAT              7 AA              KA:                        OSARAH PALIN,
DEPARTMENT OF LAW                             P.O. Box 110300
Juneau, Alaska 99811-0300
Phone: (907) 465-3600
Fax:  (907) 465-2075
March 25, 2008
The Honorable Sarah Palin
State of Alaska
P.O. Box 110001
Juneau, Alaska 99811-0001
Re:   FCCS SB 125 -- relating to the accounting and
payment of contributions under the retirement plans
of the Public Employees' Retirement System of
Alaska and the Teachers' Retirement System, to
calculations of contributions under those retirement
plans, and to participation in, and termination of and
amendments to participation in, the defined benefit
plans of those systems; relating to recovery of an
award of damages or other recovery by those systems;
relating to employer contributions to the health
reimbursement  arrangement  plan; relating  to
participation in the public employees' defined
contribution plan by certain elected officials; and
making conforming amendments
Our file: 883-08-0014
Dear Governor Palin:
At the request of your legislative office, we have reviewed FCCS SB 125, which makes
the state's public employees' retirement system (PERS) a cost-sharing plan, amends PERS and
teachers' retirement system (TRS) statutes to provide employers with contribution rate relief and
certainty, and requires the state to make annual contributions to PERS and TRS to pay down the
unfunded liability of the defined benefit plans of those systems. The bill was introduced at your
request during the 2007 regular legislative session.
As originally introduced, the bill would have affected only PERS defined benefit plan
statutes, making amendments to change that plan into an employer cost share plan, with each
non-state employer having the same contribution rate. The rate would not have been a fixed rate,
but would have been actuarially determined annually to include the plan's normal cost rate and
past service liability. The past service liability determined as of June 30, 2006, would have been

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