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SB28

SB28: Choice Between Teacher Retirement Plans

Last scannedSep 10, 2026, 12:32 AM

In one sentence

This law allows certain teachers who joined between June 30, 2006, and July 1, 2025, to choose a defined benefit retirement plan if they leave the workforce before July 1, 2025, and return after that date.

What it does

  • Allows eligible teachers who are rehired after July 1, 2025, to switch from a defined contribution plan to a defined benefit plan.
  • Requires these teachers to use their existing retirement account balance to buy credited service time in the new plan.
  • Mandates that married teachers get their spouse's signature before making this one-time election.
  • Sets a deadline of 180 days after reemployment for teachers to make this choice.
  • Requires the administrator to provide information and calculations about how switching plans affects future benefits.

Who it affects

  • Teachers who became members of the retirement system between June 30, 2006, and July 1, 2025.
  • The Public Employees' Retirement System of Alaska (PERS) and the Teachers' Retirement System.

Limits and unknowns

  • The law does not state the specific date it will take effect.
  • Teachers who cash out their entire retirement account balance before returning to work cannot switch plans under this rule unless they roll those funds back into an eligible plan within 180 days of reemployment.

Plain language

Terms to know

Defined benefit plan
A retirement plan that promises a specific monthly payment based on salary history and years worked.
Defined contribution plan
A retirement account where the final amount depends on how much money was put in and how well investments performed.
Credited service
Time worked that counts toward eligibility for a pension benefit.

Official record

Sources

Validated
Official bill pageIntroduced textCurrent bill text

Official summary

RETIREMENT SYSTEMS; DEFINED BENEFIT OPT. An Act relating to the Public Employees' Retirement System of Alaska and the teachers' retirement system; providing certain employees an opportunity to choose between the defined benefit and defined contribution plans of the Public Employees' Retirement System of Alaska and the teachers' retirement system; and providing for an effective date.

Official activity

Bill history

  1. (S) Minutes (SL&C)Min
  2. (S) Heard & HeldText
  3. (S) LABOR & COMMERCE at 01:30 PM BELTZ 105 (TSBldg)Text
  4. (S) Minutes (SL&C)Min
  5. (S) Heard & HeldText
  6. (S) LABOR & COMMERCE at 01:30 PM BELTZ 105 (TSBldg)Text
  7. (S) COSPONSOR(S): WIELECHOWSKI147
  8. (S) COSPONSOR(S): KIEHL, CLAMAN, TOBIN, KAWASAKI, BJORKMAN, DUNBAR, STEVENS125
  9. (S) COSPONSOR(S): GRAY-JACKSON74
  10. (S) REFERRED TO LABOR & COMMERCE33
  11. (S) L&C, FIN33
  12. (S) READ THE FIRST TIME - REFERRALS33
  13. (S) PREFILE RELEASED 1/10/2533