Political Subdivision SBS Participation Information
In order to participate in the SBS a political subdivision or public organization employer must belong to the State of Alaska Public Employees’ Retirement System (PERS). In addition employees of the employer must meet eligibility requirements for participating in the Federal Social Security System. However employees of an employer cannot belong to both SBS and Social Security at the same time. If a class of employee working for the employer participates in Social Security, this class of employees must drop participation in Social Security prior to being eligible for participation in SBS. If an employer has a Social Security section 218 participation agreement, that employer will not be able to withdraw from Social Security participation employees who are covered by this agreement.
Teachers’ Retirement System (TRS) employees are not eligible to participate in the SBS.
Participation requirements are outlined in the Alaska Statutes, starting with 39.30.150.
Alaska Statute 39.30.170(b) details the administrative steps required in order for an employer to become a member of the SBS. If an employer qualifies for SBS participation, it could join the SBS by resolution of the subdivision's governing board or counsel. A participation agreement would then need to be signed by the subdivision's chief administrator.
For more information or prior to beginning the process of joining the SBS
Please contact Nicole Evans at the Division of Retirement and Benefits, at (907) 465-4463 or at email.