00                      CS FOR SENATE BILL NO. 81(L&C)                                                                    
01 "An Act relating to employer contribution rates in the Public Employees' Retirement                                     
02 System of Alaska; and providing for an effective date."                                                                 
03 BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF ALASKA:                                                                
04    * Section 1. AS 39.35.255(d) is amended to read:                                                                   
05            (d)  Notwithstanding (a) of this section, the annual employer contribution rate                              
06       may not be less than the rate sufficient to allow payment of                                                      
07                 (1)  the employer normal cost;                                                                  
08                 (2)  an amount calculated at the rate certified under                                               
09       AS 37.10.220(a)(8) for liquidating past service liability of the plan; and                                    
10                 (3)  the employer contributions required under AS 39.30.370 and                                     
11       AS 39.35.750.                                                                                                     
12    * Sec. 2. This Act takes effect immediately under AS 01.10.070(c).