Legislature(2015 - 2016)
2015-03-04 House JournalFull Journal pdf
2015-03-04 House Journal Page 0363 HB 135 HOUSE BILL NO. 135 by the House Rules Committee by request of the Governor, entitled: "An Act establishing a Roth contribution program for the public employees' deferred compensation program; and providing for an effective date." was read the first time and referred to the Labor & Commerce and Finance Committees. 2015-03-04 House Journal Page 0364 The following fiscal note(s) apply: 1. Zero, Dept. of Administration The Governor's transmittal letter dated March 3, 2015, follows: "Dear Speaker Chenault: Under the authority of Article III, Section 18 of the Alaska Constitution, I am transmitting a bill relating to the establishment of a Roth contribution program for the public employees' deferred compensation program. Currently, AS 39.45.050 only allows deferred tax contributions to be made on behalf of participating employees under the public employees' deferred compensation program (program). Deferred contributions are contributions that are not taxed until the participating employee begins receiving benefits under the program. The bill would allow Roth contributions in addition to deferred tax contributions. Roth contributions are contributions made post-tax, thereby eliminating the tax liability at the time of retirement. I urge your prompt and favorable action on this measure. Sincerely, /s/ Bill Walker Governor"