State of Alaska
Fiscal Note
Bill Version: CSHB 306(FIN)
2018 Legislative Session
Fiscal Note Number: 2
(H) Publish Date: 4/12/2018
Identifier: HB306-DOA-DRB-03-13-18 Department: Department of Administration
Title: PERS/TERS DISTRIBUTIONS Appropriation: Centralized Administrative Services
Sponsor: RLS BY REQUEST OF THE GOVERNOR Allocation: Retirement and Benefits
Requester: (H) FIN OMB Component Number: 64
Expenditures/Revenues
Note: Amounts do not include inflation unless otherwise noted below. (Thousands of Dollars)
Included in
FY2019 Governor's
Appropriation FY2019 Out-Year Cost Estimates
Requested Request
OPERATING EXPENDITURES FY 2019 FY 2019 FY 2020 FY 2021 FY 2022 FY 2023 FY 2024
Personal Services
Travel
Services
Commodities
Capital Outlay
Grants & Benefits
Miscellaneous
Total Operating 0.0 0.0 0.0 0.0 0.0 0.0 0.0
Fund Source (Operating Only)
None
Total 0.0 0.0 0.0 0.0 0.0 0.0 0.0
Positions
Full-time
Part-time
Temporary
Change in Revenues
None
Total 0.0 0.0 0.0 0.0 0.0 0.0 0.0
Estimated SUPPLEMENTAL (FY2018) cost: 0.0 (separate supplemental appropriation required)
(discuss reasons and fund source(s) in analysis section)
Estimated CAPITAL (FY2019) cost: 0.0 (separate capital appropriation required)
(discuss reasons and fund source(s) in analysis section)
ASSOCIATED REGULATIONS
Does the bill direct, or will the bill result in, regulation changes adopted by your agency? Yes
If yes, by what date are the regulations to be adopted, amended or repealed? 07/01/18
Why this fiscal note differs from previous version/comments:
Updated to specify lack of actuarial impact to retirement plan.
Prepared By: Ajay Desai Phone: (907)465-4471
Division: Retirement and Benefits Date: 03/13/2018 10:00 AM
Approved By: Leslie Ridle, Commissioner Date:
OUT OF 03/14/2018
Agency: Department of Administration REPORTED
Printed 4/12/2018 Page 1 of 2 HFC 04/11/2 018
Control Code: pGMtf
 CSHB 306(FIN) - Fiscal Note 2
FISCAL NOTE ANALYSIS
STATE OF ALASKA BILL NO. HB 306
2018 LEGISLATIVE SESSION
Analysis
This bill amends AS 14.25.420(a) and AS 39.35.820(a) to remove the list of disbursement options from statute and move
the options to regulations. New language removes the list of disbursement options and replaces it with general language
authorizing a lump sum payment of the entire balance or a periodic payment option authorized by the regulations.
This change will allow more flexibility to the Plan Administrator, with adoption by the Alaska Retirement Management
Board, to add new options as they become available and are of benefit to participants. Future disbursement options will
go through the regulatory process with public notice to all stakeholders and interested parties.
This legislation will have no actuarial impact to the TRS or PERS since any costs incurred when electing a distribution
option is borne by the participant. Therefore, the agency submits a zero fiscal note.
(Revised 9/26/17 OMB/LFD) Page 2 of 2
HB306-DOA-DRB-03-13-18 Page 2 of 2 Control Code: pGMtf


Statutes affected:
HB0306A, AM HB 306, introduced 01/24/2018: 14.25.420, 39.35.820
HB0306B, AM CSHB 306(FIN), introduced 04/12/2018, passed House 04/13/2018, passed Senate 05/08/2018: 14.25.420, 39.35.820
HB0306Z, AM Enrolled HB 306, introduced 05/08/2018: 14.25.420, 39.35.820