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Senate Finance Committee adopts working substitute for HB 78, schedules public testimony

Alaska Legislature, Senate Finance Committee / Subcommittee · April 16, 2026

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Summary

The Senate Finance Committee adopted Senate CS version T for House Bill 78, which adjusts PERS/TERS contribution parameters and medical‑benefit eligibility; staff outlined amendments raising an employer contribution cap, adding a 12‑month active‑service medical‑benefit requirement, and expanding board discretion on contribution rates.

The Alaska Senate Finance Committee adopted a working committee substitute for House Bill 78 on April 16 and scheduled public testimony for the coming week.

Senator Kiel moved that the committee adopt Senate CS for House Bill 78, version T, as the working document. Liz Harpold, staff to Senator Olson and lead aide for legislation, explained the changes included in version T: "The first one raises the upper limit of Public Employee Retirement System, or PERS, defined benefit employer contribution rate from 22 to 24 percent" (section 70). She added that another amendment requires a member of the Teachers' Retirement System, or TERS, or a member of PERS who reaches retirement age with at least 10 years of experience to have been an active employee for at least the 12 months immediately before applying for retirement to receive medical benefits (sections 33 and 92). A third amendment permits the Alaska Retirement Management Board to adjust the contribution rate of TERS or PERS defined benefit plan participants "to a rate above 12 percent, but not less than 8 percent" (sections 8 and 65).

After discussion, the chair removed his objection and the committee adopted CS version T as its working document so communities and interested parties would testify to the current language. Committee members said they will work with the bill sponsor and affected communities to notify the public; Harpold and staff indicated the likely hearing window is the middle to end of next week.

The committee did not take a final vote on HB 78 itself; the action recorded in the transcript is adoption of the CS as the working document and scheduling of public testimony. The committee adjourned at 9:15 a.m.