NEA-Alaska Applauds Movement of Senate Bill 121

Anchorage, AK - NEA-Alaska President Barb Angaiak is applauding the movement of Senate Bill 121 out of the Senate State Affairs committee earlier today. 

SB 121 would allow Alaska's public employees to choose between a defined contribution 401K retirement plan and a defined benefit pension.
 
"Providing Alaska's public employees with retirement security has been a priority of the 13,000 members of NEA-Alaska for the past five years," said Angaiak.  "Alaska's public school employees, along with police officers, firefighters and other public employees have no safety net in their retirement years.  Without an option for a defined benefit and with no social security benefits, Alaska's public employees have the worst retirement in the nation."
 
Senate Bill 121 was introduced by Sen. Dennis Egan last year, and now has half of the Alaska State Senate as co-sponsors.  The Senate State Affairs committee has held six hearings on the legislation, including meetings in Anchorage and Fairbanks in the Fall of 2011.  This legislation will save the state over $49 million in the next five years and will still allow those wishing to remain in Alaska for a career in public service the ability to do so.
 
NEA-Alaska also applauds the sponsors and the State Affairs Chairman Senator Bill Wielechowski for crafting legislation that allows choice and does not add one cent to any future liability.
 
"I have been a teacher in Alaska and an NEA-Alaska member for 32 years.  I have never seen a piece of legislation get the kind of thorough vetting in a single committee as SB 121," added Angaiak. "We are amazed at the perseverance of Senator Egan and the willingness of all members of State Affairs to continue to fine tune legislation that will benefit Alaska."
 
NEA-Alaska thanks the State Affairs committee for moving this critical legislation to the next committee and we look forward to working with the Alaska State Legislature as this bill moves through the legislative process."
 
President Angaiak represents the organization's 13,000+ educators and education support professionals.  NEA-Alaska is the state's largest union.

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