00 SENATE BILL NO. 129                                                                                                     
01 "An Act relating to the employer's required savings under the retirement incentive                                      
02 plan; and providing for an effective date."                                                                             
03 BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF ALASKA:                                                                
04    * Section 1.  Section 22(b), ch. 4, FSSLA 1996, is amended to read:                                                  
05  (b)  An employee is eligible to participate in a retirement incentive plan under                                      
06 secs.  22 - 35 of this Act only if the                                                                                  
07   (1)  employee is a vested member of the public employees' retirement                                                 
08 system or the teachers' retirement system;                                                                              
09   (2)  employee will be qualified to retire under AS 14.25.110 or                                                      
10 AS 39.35.370 after receipt of the credit described in (f) of this section;                                              
11   (3)  savings to the employer in personal services costs for the                                                      
12 employee's position will exceed the costs to the employer for that position within five                               
13 [THREE] years after the employee is appointed to retirement.                                                            
14    * Sec. 2.  Section 32(b), ch. 4, FSSLA 1996, is amended to read:                                                     
01  (b)  The office of management and budget shall submit to the legislature annual                                       
02 reports on the retirement incentive program under secs. 22 - 35 of this Act beginning                                   
03 January 15, 1998, and continuing through January 15, 2000, and shall submit a final                                     
04 report January 15, 2001.  Each report must provide the information necessary for the                                    
05 legislature to evaluate the effectiveness of the programs in achieving their objectives.                                
06 The report must include information on the designated employee categories under the                                     
07 incentive programs, the cost to the state, the cost to the employee, the annual budgeted                                
08 amount, by state agency, for the incentives, the number of positions deleted or left                                    
09 vacant, and the projected or actual net savings over the five-year [THREE-YEAR]                                       
10 period, and recommendations to the legislature for changes in appropriations that                                       
11 reflect the cost and cost savings resulting from the retirement and separation incentive                                
12 programs.                                                                                                               
13    * Sec. 3.  This Act takes effect immediately under AS 01.10.070(c).