Legislature(1993 - 1994)
02/13/1993 08:00 AM House STA
| Audio | Topic |
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* first hearing in first committee of referral
+ teleconferenced
= bill was previously heard/scheduled
+ teleconferenced
= bill was previously heard/scheduled
Number 111
REPRESENTATIVE PETE KOTT asked why the administration
introduced HB 81 instead of supporting SB 6.
Number 120
COMMISSIONER USERA explained the SB 6 annuity phase out.
The participation was unrealistic, she believed.
Number 226
REPRESENTATIVE HARLEY OLBERG thought the annuity was the
same as a savings account.
Number 231
COMMISSIONER USERA agreed and further explained annuity
accounts and actuaries.
Number 255
REPRESENTATIVE OLBERG stated an annuity savings program
could be bought by anyone through an insurance company.
Number 261
COMMISSIONER USERA agreed.
Number 263
CHAIRMAN VEZEY discussed taxes with regard to the longevity
bonus.
Number 267
COMMISSIONER USERA discussed tax implications and liability.
Number 277
CHAIRMAN VEZEY thanked Commissioner Usera and began taking
public testimony.
Number 471
JOHN J. SHAFFER testified via teleconference from Sitka, on
behalf of the American Association of Retired People. He
agreed the longevity bonus needed to be reformed. He
favored the annuity program in SB 6, and explained the value
of the longevity bonus for seniors.
Number 510
MS. STERLING suggested the committee review a report
regarding older Alaskan senior citizens' impact on the
economy of Alaska.
Number 539
ROSE PALMQUIST testified via teleconference from Mat-Su in
opposition to HB 81. She supported SB 6.
Number 604
HUGH JOHNSON testified via teleconference from Mat-Su. He
discussed the contribution of older Alaskans. He favored
the longevity bonus.
Number 640
MS. PALMQUIST reiterated her support for SB 6.
Number 159
ROSE FELTZ, a member of the MAT-SU SENIOR CITIZENS' ADVISORY
BOARD, testified via teleconference from Mat-Su in support
of SB 6. "I was born in Alaska and I am 57 years old now.
When I turn 65 there will be a law suit if I am treated
differently than other senior citizens who receive the
bonus," she said.
Number 191
GLORIA MASCHMEYER testified via teleconference from
Anchorage. She requested clarification of the SB 6 annuity
program versus the phase out plan. She did not understand
why anyone would want to put their Permanent Fund monies
into a state annuity program.
Number 314
REPRESENTATIVE GARY DAVIS stated SB 6 annuity was a
volunteer program.
Number 348
COMMISSIONER USERA said the SB 6 annuity program was
extremely complex and impractical.
Number 359
MS. MASCHMEYER was interested in the longevity bonus and
would retire in Alaska. "I would not personally deposit my
Permanent Fund in a state annuity account because it is not
refundable and would not be inherited by my family upon my
death," she said.
Number 378
CHAIRMAN VEZEY said the option to put permanent funds into a
savings plan of choice may be best.
Number 383
REPRESENTATIVE OLBERG agreed that when seniors turned 65 and
were not eligible for a longevity check there would be
lawsuits.
Number 478
MS. STERLING noted there were four bills on this topic:
HB 81, SB 6, SB 58, and HB 77, each of which had its own
weakness. She asked if the program could be based on need.
Number 491
REPRESENTATIVE OLBERG discussed needs' based programs. Many
people with needs would not utilize available programs
because of pride, he said.
MS. STERLING pointed out social security and medicaid did
not have a stigma attached to them.
Number 511
COMMISSIONER USERA discussed needs' based programs in the
Department of Administration such as the Older Alaskans
Commission and the Pioneer Home. She claimed there was a
network of support for senior citizens and that assistance
for senior citizens had expended.
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