Facing a retention crisis, the Alaska Legislature is considering a bill that would implement a more generous retirement scheme for Alaska State Troopers, police officers, firefighters and correctional officers.
Under the plan, first responders could start receiving benefits when they’re 55 years old after 20 years of service, but health benefits would remain as a defined contribution.
Police and fire departments across Alaska report that many officers are doing just that. Cory Luck was a firefighter and paramedic in Juneau, and faced the uncertainty of Alaska’s retirement system. Alaska is one of two states without a defined benefits retirement system for its public safety officers. The state ended its defined benefits scheme in 2006 after it was found to be underfunded, contributing to an“How can you make us absolutely certain that we won’t run into unfunded liabilities like we’re paying for now?” Sen. Josh Revak, R-Anchorage, asked Josephson on Monday, about the new bill.
Implementing a new retirement scheme for first responders has long been before the Legislature. There are two other bills covering a broader swath of public sector employees. Neither have passed the House or Senate.
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