00                             HOUSE BILL NO. 38                                                                          
01 "An Act relating to eligibility of employers in the teachers' retirement system to                                      
02 participate in a supplemental employee benefits program; and providing for an effective                                 
03 date."                                                                                                                  
04 BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF ALASKA:                                                                
05    * Section 1. AS 39.30.170(a) is amended to read:                                                                   
06            (a)  An employer in the teachers' retirement system (AS 14.25) that does                                 
07       not participate in the federal social security system may become a participating                              
08       employer in the employee benefits program under AS 39.30.150 - 39.30.180 [, IF                                    
09                 (1)  THE EMPLOYER PARTICIPATES AS AN EMPLOYER IN                                                        
10       THE PUBLIC EMPLOYEES' RETIREMENT SYSTEM UNDER AS 39.35; AND                                                       
11                 (2)  THE EMPLOYER                                                                                       
12                      (A)  IS ELIGIBLE FOR MEMBERSHIP IN BUT HAS                                                         
13            NEVER ELECTED TO BECOME A MEMBER OF THE FEDERAL                                                              
14            SOCIAL SECURITY SYSTEM; OR                                                                                   

01                      (B)  WITHDRAWS FROM MEMBERSHIP IN THE                                                              
02            FEDERAL SOCIAL SECURITY SYSTEM].                                                                             
03    * Sec. 2. AS 39.30.180(3) is amended to read:                                                                      
04                 (3)  "participating employer" means                                                                     
05                      [(A)  THE STATE OF ALASKA; AND                                                                     
06                      (B)]  an employer,                                                                             
07                           [(i)  WHO IS AN EMPLOYER] as defined in                                                       
08                 AS 14.25.220 or AS 39.35.680, that does not participate [;                                      
09                           (ii)  WHO HAS NEVER PARTICIPATED IN OR HAS                                                    
10                 WITHDRAWN FROM PARTICIPATION] in the federal social                                                     
11                 security system [; AND                                                                                  
12                           (iii)  WHOSE PARTICIPATION IN THE                                                             
13                 SUPPLEMENTAL EMPLOYEE BENEFIT PROGRAM HAS BEEN                                                          
14                 APPROVED BY THE COMMISSIONER].                                                                          
15    * Sec. 3. This Act takes effect July 1, 2025.