00                            HOUSE BILL NO. 305                                                                          
01 "An Act relating to a bill that provides a defined contribution retirement plan for                                     
02 certain members of the teachers' retirement system and certain members of the public                                    
03 employees' retirement system; and providing for an effective date."                                                     
04 BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF ALASKA:                                                                
05    * Section 1.  The uncodified law of the State of Alaska is amended by adding a new section                         
06 to read:                                                                                                                
07       LEGISLATIVE FINDINGS.  The legislature has adopted all measures appropriate to                                    
08 solve the problems and address the needs of the teachers' retirement systems and the public                             
09 employees' retirement systems as those systems were constituted on May 5, 2005.                                         
10    * Sec. 2.  The uncodified law of the State of Alaska is amended by adding a new section to                         
11 read:                                                                                                                   
12       REPEAL OF A SECTION OF A BILL THAT PROVIDES A DEFINED                                                             
13 CONTRIBUTION RETIREMENT PLAN FOR CERTAIN MEMBERS OF THE                                                                 
14 TEACHERS' RETIREMENT SYSTEM AND CERTAIN MEMBERS OF THE PUBLIC                                                           

01 EMPLOYEES' RETIREMENT SYSTEM.  If, during the First Regular Session of the                                              
02 Twenty-Fourth Alaska State Legislature, the legislature passes a bill that becomes law                                  
03 establishing defined contribution retirement plans for members of the teachers' retirement                              
04 system first hired on or after the effective date of the defined contribution retirement plan, and                      
05 members of the public employees' retirement system first hired on or after the effective date                           
06 of the defined contribution retirement plan, and a retiree health reimbursement arrangement                             
07 plan for persons covered by both retirement plans, each of the following in that bill are                               
08 repealed:                                                                                                               
09            (1)  a provision in a bill section directing the repeal of those plans and any                               
10 related material contained in that bill section; and                                                                    
11            (2)  each other bill section giving contingent effect to the bill section described                          
12 in (1) of this section.                                                                                                 
13    * Sec. 3.  This Act takes effect immediately under AS 01.10.070(c).