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NOTICE OF PROPOSED CHANGES ON RETIREMENT PLANS IN THE REGULATIONS OF THE DEPARTMENT OF ADMINISTRATION

Proposed Regulations Change for the Retirement System IRS Compliance Policy [PDF]

Retirement System IRS Compliance Policy [PDF]

The Division of Retirement and Benefits proposes to adopt regulation changes in Title 2 of the Alaska Administrative Code, dealing with the Alaska retirement system federal tax compliance policy.

Regulations will be adopted for each of the following plans to adopt by reference the Alaska Retirement System Federal Tax Compliance Policy as required by the Internal Revenue Code of 1986, as amended, related federal Treasury regulations and other applicable federal law.

2 AAC 35.139 Public Employees’ Retirement System Defined Contribution Plan
2 AAC 35.296 Public Employees’ Retirement System Defined Benefit Plan
2 AAC 36.025 Teachers’ Retirement System Defined Benefit Plan
2 AAC 36.099 Teachers’ Retirement System Defined Contribution Plan
2 AAC 37.092 Judicial Retirement System
2 AAC 37.187 Supplemental Benefits System Annuity Plan
2 AAC 37.240 Public Employees’ Deferred Compensation Plan
2 AAC 37.280 National Guard and Naval Militia Retirement System

You may comment on the proposed regulation changes, including the potential costs to private persons of complying with the proposed changes, by submitting written comments to Kathy Lea, Chief Pension Officer at P.O. Box 110203, Juneau, AK 99811-0203 and kathy.lea@alaska.gov. [Comments may also be submitted through the Alaska Online Public Notice System, by accessing this notice on the system and using the "comment" link.] The comments must be received no later than 11:59 p.m. on August 6, 2015.

If you are a person with a disability who needs a special accommodation in order to participate in this process, please contact Kathy Lea at (907) 465-3226 no later than August 6, 2015 to ensure that any necessary accommodations can be provided.

A copy of the proposed regulation changes and of material to be adopted by reference is available on the Alaska Online Public Notice System [and/or through the electronic link to the complete text on the Alaska Online Public Notice System] and by contacting Kathy Lea, Chief Pension Officer at P.O. Box 110203, Juneau, AK 99811-0203, or (907) 465-3226.

After the public comment period ends, the Division of Retirement and Benefits will either adopt the proposed regulation changes or other provisions dealing with the same subject, without further notice, or decide to take no action. The language of the final regulations may be different from that of the proposed regulations. You should comment during the time allowed if your interests could be affected.

Statutory Authority: AS 14.25.003; AS 14.25.004; AS 14.25.005; AS 14.25.320; AS 22.25.027; AS 26.05.222; AS 39.30.151; AS 39.30.154; AS 39.35.003; AS 39.35.005; AS 39.35.710; AS 39.45.020.

Fiscal Information: No increased appropriations are anticipated.