2005-04-08                     Senate Journal                      Page 0850
SB 141                                                                                            
SENATE BILL NO. 141 "An Act relating to the teachers' and public                                    
employees' retirement systems and creating defined contribution and                                 
health reimbursement plans for members of the teachers' retirement                                  
system and the public employees' retirement system who are first hired                              
after July 1, 2005; establishing the Alaska Retirement Management                                   
Board to replace the Alaska State Pension Investment Board, the                                     

2005-04-08                     Senate Journal                      Page 0851
Alaska Teachers' Retirement Board, and the Public Employees'                                        
Retirement Board; adding appeals of the decisions of the administrator                              
of the teachers' and public employees' retirement systems to the                                    
jurisdiction of the office of administrative hearings; and providing for                            
an effective date" was read the second time.                                                        
                                                                                                    
Senator Green, Cochair, moved and asked unanimous consent for the                                   
adoption of the Finance Committee Substitute offered on page 846.                                   
Without objection, CS FOR SENATE BILL NO. 141(FIN) "An Act                                          
relating to the teachers' and public employees' retirement systems and                              
creating defined contribution and health reimbursement plans for                                    
members of the teachers' retirement system and the public employees'                                
retirement system who are first hired after July 1, 2005; relating to                               
university retirement programs; establishing the Alaska Retirement                                  
Management Board to replace the Alaska State Pension Investment                                     
Board, the Alaska Teachers' Retirement Board, and the Public                                        
Employees' Retirement Board; adding appeals of the decisions of the                                 
administrator of the teachers' and public employees' retirement                                     
systems to the jurisdiction of the office of administrative hearings;                               
providing for nonvested members of the teachers' retirement system                                  
defined benefit plans to transfer into the teachers' retirement system                              
defined contribution plan and for nonvested members of the public                                   
employees' retirement system defined benefit plans to transfer into the                             
public employees' retirement system defined contribution plan;                                      
providing for political subdivisions and public organizations to request                            
to participate in the public employees' defined contribution retirement                             
plan; and providing for an effective date" was adopted.                                             
                                                                                                    
President Stevens stated CS FOR SENATE BILL NO. 141(FIN) will                                       
be on the April 11 calendar.