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 previous conditions for participation, which included specific eligibility criteria related to federal social security membership, have been removed.

Additionally, the definition of "participating employer" is updated to include employers defined under specific sections of the law and clarifies that they must not participate in the federal social security system. The bill also specifies that the participation of these employers in the supplemental employee benefit program must be approved by the commissioner. The effective date for this act 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