HB  78-RETIREMENT SYSTEMS; DEFINED BENEFIT OPT.                                                                     
                                                                                                                                
1:34:31 PM                                                                                                                    
CHAIR BJORKMAN announced  the consideration of CS  FOR HOUSE BILL                                                               
NO.  78(FIN)  am(efd   fld)  "An  Act  relating   to  the  public                                                               
employees'  retirement   system  and  the   teachers'  retirement                                                               
system; and providing certain employees  an opportunity to choose                                                               
between  the defined  benefit and  defined contribution  plans of                                                               
the  public  employees'  retirement   system  and  the  teachers'                                                               
retirement system."                                                                                                             
                                                                                                                                
The committee  adopted SCS CSHB  78 on  January 26, 2026,  and is                                                               
before the committee.                                                                                                           
                                                                                                                                
1:35:22 PM                                                                                                                    
SENATOR YUNDT  stated that  he appreciated that  HB 78  allowed a                                                               
choice between  the DB and DC  plans during the first  five years                                                               
of  an  employee's  employment.  This  flexibility  is  important                                                               
because  many people  move to  Alaska without  intending to  stay                                                               
long-term but  often decide  to remain. He  said since  the state                                                               
aims  to   attract  highly   qualified  professionals,   such  as                                                               
engineers and  attorneys, retaining  that option would  have been                                                               
beneficial.                                                                                                                     
                                                                                                                                
1:36:22 PM                                                                                                                    
CHAIR BJORKMAN solicited the will of the committee.                                                                             
                                                                                                                                
1:36:24 PM                                                                                                                    
SENATOR GRAY-JACKSON moved to report  SCS CSHB 78, work order 34-                                                               
LS0493\G,  from  committee  with individual  recommendations  and                                                               
attached fiscal note(s).                                                                                                        
                                                                                                                                
1:36:40 PM                                                                                                                    
CHAIR  BJORKMAN  found no  objection  and  SCS CSHB  78(L&C)  was                                                               
reported from the Senate Labor and Commerce Standing Committee.