2013-02-11                     Senate Journal                      Page 0259
SB 48                                                                                                                         
SENATE BILL NO. 48 BY SENATOR OLSON, entitled:                                                                                  
                                                                                                                                
          "An Act requiring each municipality with a                                                                            
          population that decreased by more than 25 percent                                                                     
          between 2000 and 2010 that participates in the                                                                        
          defined benefit plan of the Public Employees'                                                                         
          Retirement System of Alaska to contribute to the                                                                      
          system an amount calculated by applying a rate of 22                                                                  
          percent of the total of all base salaries paid by the                                                                 
          municipality to employees of the municipality who                                                                     
          are active members of the system during a payroll                                                                     
          period; reducing the rate of interest payable by a                                                                    
          municipality with a population that decreased by                                                                      
          more than 25 percent between 2000 and 2010 that is                                                                    
          delinquent in transmitting employee and employer                                                                      
          contributions to the defined benefit plan of the Public                                                               
          Employees' Retirement System of Alaska; giving                                                                        
          retrospective effect to the substantive provisions of                                                                 
          the Act; and providing for an effective date."                                                                        
                                                                                                                                
was read the first time and referred to the State Affairs and Finance                                                           
Committees.