This Bob Dylan line says it all: The fight for our retirement systems has begun in the Alaska Legislature. Your involvement is critically needed because time is short.

Both houses of the legislature have introduced draft legislation that would decimate the Teachers Retirement (TRS) and Public Employees Retirement (PERS) Systems. Several nasty themes echo through both halls of the legislature.

1. Take money from all current employees’ checks to help pay off the multi-billion dollar shortfall.
    

2. Institute lower Tier 3 for TRS and Tier 4 for PERS for new employees. The proposed defined
   contribution systems shift all investment risk to the employee.
    

3. Reduce school district contributions far below current levels.
    

4. No retiree medical coverage until age 65 for employees hired after this July 1st.
    

5. Replace the TRS, PERS, and Pension Investment Boards with a nine-person management board appointed by the governor.

The cumulative effect of the changes is a bureaucratic takeover of our retirement systems. A management board appointed by the governor and beholden to him would make all retirement-related decisions, including how much money should be deducted from current employees’ checks.

The proposed cuts and restrictions present many unintended consequences, but would certainly undercut school districts’ ability to attract new teachers and ESPs, thereby undermining the quality and professionalism that mark our schools today. 

The purpose of a good retirement system is to attract and retain a well-qualified, stable workforce. These draft changes undermine that public policy.

It is time for every teacher and education support professional to monitor the Legislative Contact Structure (LCS) messages and communicate with your elected representatives and senators! (To sign up for LCS messages, e-mail lynne.jackson@neaalaska.org.) Act now. The legislature will complete its deliberations by May 10th.