Legislature(1993 - 1994)

02/13/1993 08:00 AM House STA

Audio Topic
* first hearing in first committee of referral
+ teleconferenced
= bill was previously heard/scheduled
txt
  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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