This bill amends existing laws regarding supplemental employee benefits for employers in the teachers' retirement system and the Public Employees' Retirement System of Alaska. It allows employers who do not participate in the federal social security system to become participating employers in the employee benefits program. Notably, it provides that employees who are members of the teachers' retirement system can opt out of participating in this benefits program. The bill also clarifies the definition of "participating employer" to include those who meet specific criteria related to their participation in social security and their status as defined in various sections of the law.

Additionally, the bill removes previous conditions that restricted participation based on an employer's history with the federal social security system. The new language simplifies the criteria for participation, focusing on current eligibility rather than past actions. The effective date for this legislation is set for July 1, 2025.

Statutes affected:
HB0038A, AM HB 38, introduced 01/17/2025: 39.30.170, 39.30.150, 39.30.180
HB0038B, AM SSHB 38, introduced 03/05/2025: 39.30.170, 39.30.150, 39.30.180