Alaska2026Passed Legislature
HB108
Alaska State Trooper Retirement Plan Options
Last scannedSep 21, 2026, 12:32 AM
In one sentence
This law allows certain Alaska state troopers hired after June 30, 2006, who are currently in a defined contribution plan to make a one-time election to switch to the defined benefit retirement plan.
What it does
- Allows eligible state troopers and former state troopers employed by the state to elect participation in the defined benefit retirement plan instead of the defined contribution plan.
- Requires transferring all employee and employer contributions, plus investment earnings or losses from the old plan into the new defined benefit plan.
- Uses an actuarial formula set by the Alaska Retirement Management Board to calculate how much credited service time the transferred money buys in the new plan.
- Allows members whose transfer value is too low to cover their actual years of work to borrow money (create indebtedness) to pay for the missing credit.
- Requires any extra funds from the transfer that are not needed to buy full service credit to remain in the member's original defined contribution retirement account.
Who it affects
- State troopers and former state troopers employed by the state who were first hired after June 30, 2006.
- Eligible members must currently be participating in the defined contribution retirement plan under AS 39.35.700 - 39.35.990.
Limits and unknowns
- The election must be made within 90 days after the law takes effect on July 1, 2025.
- Once a trooper makes this choice to switch plans, it cannot be changed or undone later.
- If a member is married, their spouse must sign the form for the change to take effect.
Plain language
Terms to know
- Defined benefit plan
- A retirement system where benefits are calculated based on years of service and salary, rather than investment returns.
- Defined contribution plan
- A retirement account where the final amount depends on how much money was contributed and how well investments performed.
- Actuarial equivalent basis
- A mathematical method used to determine what value past contributions have when moving between different types of plans.
Official record
Sources
Official summary
PEACE OFFICER RETIREMENT BENEFITS An Act relating to participation of certain peace officers in the defined benefit and defined contribution plans of the Public Employees' Retirement System of Alaska; and providing for an effective date.
Official activity
Bill history
- (H) REFERRED TO STATE AFFAIRS200
- (H) STA, L&C, FIN200
- (H) READ THE FIRST TIME - REFERRALS200