05/08/1995 03:30 PM House FIN

  SENATE BILL 148                                                              
                                                                               
       "An Act relating  to a defined contribution  retirement                 
       plan for state employees."                                              
                                                                               
  ANDY WARWICK,  FAIRBANKS SCHOOL  BOARD, FAIRBANKS,  spoke in                 
  support of  full funding  of education,  although he  agreed                 
  that the current  Teachers Retirement  System (TERS) is  too                 
  costly.   He requested that the  State not make  a move that                 
  would change benefits  to teachers from  first to last.   He                 
  suggested passing  a more  moderate funding  solution as  in                 
  comparison to other states in the Union.                                     
                                                                               
                                                                               
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  Mr. Warwick  affirmed that  teaching for  20 years and  then                 
  being out and funded  is "too" liberal and also  that paying                 
  dependant health benefits after retirement is "too" liberal.                 
  He supported cost containment in  those two areas, although,                 
  cautioned  legislators  in "going  too  far" toward  the low                 
  extreme.                                                                     
                                                                               
  SB 148 was HELD in Committee for further discussion.