Legislature(1993 - 1994)
1993-01-22 Senate Journal
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Full Journal pdf1993-01-22 Senate Journal Page 0125 SB 58 was read the first time and referred to the Health, Education and Social Services Committee, the Judiciary Committee and the Finance Committee. Fiscal notes published from Department of Administration (2). Governor's transmittal letter dated January 22: Dear Mr. President: Under the authority of art. III, sec. 18, of the Alaska Constitution, I am transmitting a bill that phases out the longevity bonus program over a several-year period. This bill is necessary because the ever-increasing number of senior citizens in Alaska, coupled with the projected decline in state revenue, makes it clear that the state will not be able to afford the longevity bonus program over the long term. It is becoming increasingly necessary to shift state resources from non-need-based programs to programs for those truly in need. The bill protects current bonus recipients, and those future recipients who turn 65 before January1, 1994, by providing that they will receive $250 a month for the remainder of their lives (as long as the eligibility requirements are met). The bill phases out the program by reducing to $200 the monthly bonus for those turning 65 in 1994, by reducing to $150 the monthly bonus for those turning 65 in 1995, by reducing to $100 the monthly bonus for those turning 65 in 1996, and by eliminating the bonus altogether for those turning 65 in 1997 and later. I am proposing this phased elimination because many Alaskans who will be reaching age 65 in the next four years have counted on the bonus in planning for their retirement, and an abrupt termination of the program would not be fair to them.