Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Get email alerts on the Public Pensions topic
No spam. Unsubscribe anytime.
Committee substitutes and reports PERS/TERS bill after sponsor removes subsidy changes
Summary
Senate Labor and Commerce reported a committee substitute for SB 198 after the sponsor removed sections that would have altered Medicare premium subsidies for retirees; the change aligns the bill with Alaska Retirement Management Board recommendations and the CS was reported with an attached fiscal note.
Senator James Kaufman presented a recap of Senate Bill 198 on Feb. 6 and asked the committee to consider the committee substitute. Kaufman said the working CS removes sections that would have changed Medicare premium subsidies for retirees; those sections were removed after the ARM board intentionally chose not to recommend subsidy changes and because the actuarial impact had not been studied.
An unidentified senator moved to adopt the committee substitute as the working document. Senator Kaufman said the CS restores alignment with the Alaska Retirement Management (ARM) Board recommendations and fixes cleanup language from earlier versions. The committee adopted the CS as the working document, reported it from committee with individual recommendations and an attached fiscal note, and authorized legislative legal staff to make conforming changes.
The committee announced it will meet again on Monday to consider additional items and adjourned at 2:33 p.m.
No formal roll-call vote was recorded; actions were adopted by unanimous consent or without objection as noted in the transcript.
