Senator Jesse Kiehl is pushing to reinstate a pension-style retirement system for state and local government workers in Alaska, a proposal that was rejected in 2006. Kiehl argues that the current 401(k)-like program is detrimental to recruitment and retention efforts. Both Kiehl and Senator Giessel have introduced bills, with Giessel's focusing on enrolling new employees in the defined benefit program. The bills face skepticism from some lawmakers regarding their cost-effectiveness and impact on hiring.
Sen. Jesse Kiehl, D-Juneau, speaks during a joint session of the Alaska Legislature on Feb. 26, 2024.
“This is an important thing that we got wrong 20 years ago, and we need to get right,” he said. “It’s very clear that this doesn’t just benefit employees, it also benefits the state and it also benefits cities and local taxpayers.” There’s been a bipartisan effort to try and reverse course in hopes of encouraging hiring. Kiehl pointed to aThe effort to revive the pension system has faced skepticism from some lawmakers about whether it would actually help with hiring and save the state money. Some lawmakers fear it could the state significantly more than projected.piggyback the proposalagain this session.
“The goal here will be to get the governor to engage and have something that he will let pass into law when it hits his desk,” he said.
ALASKA LEGISLATURE PENSION SYSTEM RETIREMENT RECRUITMENT GOVERNOR
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