HB 174: "An Act requiring each municipality with a population that decreased by more than 25 percent between 2000 and 2010 that participates in the defined benefit plan of the Public Employees' Retirement System of Alaska to contribute to the system an amount calculated by applying a rate of 22 percent of the total of all base salaries paid by the municipality to employees of the municipality who are active members of the system during a payroll period; reducing the rate of interest payable by a municipality with a population that decreased by more than 25 percent between 2000 and 2010 that is delinquent in transmitting employee and employer contributions to the defined benefit plan of the Public Employees' Retirement System of Alaska; giving retrospective effect to the substantive provisions of the Act; and providing for an effective date."
00 HOUSE BILL NO. 174 01 "An Act requiring each municipality with a population that decreased by more than 25 02 percent between 2000 and 2010 that participates in the defined benefit plan of the Public 03 Employees' Retirement System of Alaska to contribute to the system an amount 04 calculated by applying a rate of 22 percent of the total of all base salaries paid by the 05 municipality to employees of the municipality who are active members of the system 06 during a payroll period; reducing the rate of interest payable by a municipality with a 07 population that decreased by more than 25 percent between 2000 and 2010 that is 08 delinquent in transmitting employee and employer contributions to the defined benefit 09 plan of the Public Employees' Retirement System of Alaska; giving retrospective effect 10 to the substantive provisions of the Act; and providing for an effective date." 11 BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF ALASKA: 12 * Section 1. AS 39.35.255 is amended by adding a new subsection to read:
01 (i) Notwithstanding (a) of this section, an employer that is a municipality shall 02 contribute an amount calculated under (a)(1) of this section if the population of the 03 municipality decreased by more than 25 percent between 2000 and 2010 according to 04 the decennial census conducted by the United States Census Bureau. 05 * Sec. 2. AS 39.35.610 is amended by adding a new subsection to read: 06 (c) Notwithstanding (a) of this section, if an employer that is delinquent in 07 transferring contributions under (a) of this section is a municipality in which the 08 population decreased by more than 25 percent between 2000 and 2010, according to 09 the decennial census conducted by the United States Census Bureau, interest shall be 10 assessed on the outstanding contributions from the date that the contributions were 11 originally due at a rate that is the lesser of 12 (1) three percentage points above the 12th Federal Reserve District 13 discount rate in effect on January 2 of the calendar year in which the applicable 14 payroll period ended; or 15 (2) a rate specified under a contract between the employer and the 16 administrator. 17 * Sec. 3. The uncodified law of the State of Alaska is amended by adding a new section to 18 read: 19 RETROACTIVITY. Sections 1 and 2 of this Act are retroactive to July 1, 2009. 20 * Sec. 4. This Act takes effect immediately under AS 01.10.070(c).