00                            SENATE BILL NO. 200                                                                         
01 "An Act relating to the employer contribution rate in the teachers' retirement system                                   
02 defined contribution retirement plan; relating to supplemental employee benefits; and                                   
03 providing for an effective date."                                                                                       
04 BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF ALASKA:                                                                
05    * Section 1. AS 14.25.350(a) is amended to read:                                                                   
06            (a)  An employer shall contribute to each member's individual account an                                     
07       amount equal to nine [SEVEN] percent of the member's compensation from July 1 to                              
08       the following June 30.                                                                                            
09    * Sec. 2. AS 39.35.957 is amended by adding a new subsection to read:                                              
10            (d)  Notwithstanding (a) of this section, an employee hired after December 31,                               
11       2024, is ineligible to participate in the plan unless the employee's employer                                     
12       participates in                                                                                                   
13                 (1)  the federal social security system; or                                                             
14                 (2)  the supplemental employee benefits program under AS 39.30.150 -                                    

01       39.30.180.                                                                                                        
02    * Sec. 3. This Act takes effect July 1, 2024.