This bill amends the eligibility criteria for employers in the teachers' retirement system to participate in a supplemental employee benefits program. Specifically, it allows employers in the teachers' retirement system who do not participate in the federal social security system to become participating employers in the employee benefits program. The previous requirement that an employer must also participate in the public employees' retirement system and meet additional conditions related to federal social security participation has been removed.

Additionally, the definition of "participating employer" is updated to clarify that it includes employers defined under AS 14.25.220 or AS 39.35.680 who do not participate in the federal social security system. The bill will take effect on July 1, 2025.

Statutes affected:
HB0038A, AM HB 38, introduced 01/17/2025: 39.30.170, 39.30.150, 39.30.180