Benefit Fair coming to Bethel March 16-19

Fair also planned for Ketchikan on April 15-16

The next Benefit Fair will be held in Bethel, March 16-19, 2011. The exact location in Bethel is yet to be announced. The April 15-16 Benefit Fair will be held at the University of Alaska Southeast, Ketchikan campus. PERS and TRS members of all ages are invited to attend. There will be educational workshops to help employees business seminarplan now for their future retirement security. The fair will provide state employees covered under the AlaskaCare Employee Health Plan an opportunity to learn more about available benefits. There will also be sessions on Optional Benefits (formerly Supplemental Benefits) and the Supplemental Annuity Plan.

As the spring Benefit Fairs approach, descriptions of the workshops to be offered and a complete fair schedule will be posted on the Division web site.

Participation of elected officials in the PERS—
a clarification

Legislation, passed in 2008, affecting elected officials and their participation in the Public Employees' Retirement System has created some confusion regarding which elected officials must meet the new $2,001 monthly compensation requirement for inclusion in the system. The Division sought clarification of the compensation rules from the state of Alaska Department of Law. The guidelines for including elected officials are as follows:

Politicians at work road sign

Employers who included elected officials in participation agreements prior to June 6, 2007

If an employer included elected officials in its participation agreement prior to June 6, 2007, enrollment of newly elected officials is dependent upon the benefit tier under which the new official is eligible.

  • Defined Benefit Elected Officials (PERS Tiers I, II, III): Newly elected officials who are already members of the defined benefit plan (first entered the PERS prior to July 1, 2006) can be enrolled in the PERS as long as they are compensated for their services. Defined benefit elected officials with a participating employer who included them prior to June 6, 2007, do not have to meet the $2,001 minimum monthly compensation requirement to remain in the PERS.
  • Defined Contribution Elected Officials (PERS Tier IV): Newly elected officials who have not previously been members of the PERS or who are defined contribution members must be compensated at a rate of at least $2,001 per month to be eligible for PERS participation.

Employers who included elected officials in participation agreements on or after June 6, 2007

If an employer did not include elected officials in its participation agreement prior to June 6, 2007, amended its agreement to add them on or after June 6, 2007, or is amending its participation agreement to include them now, all elected officials, both defined benefit and defined contribution members, must be compensated at the rate of at least $2,001 per month to be eligible for PERS participation.

If you have questions regarding whether an elected official is subject to the $2,001 minimum compensation requirement, contact your regional counselor at 800-821-2251.

PERS and TRS Employer Manuals
soon ready for distribution

The Division has been putting together separate manuals for both PERS and TRS employers that are generic manual intended as a resource guide to help employers with questions they may have about the retirement systems. The manuals cover both the PERS and TRS Defined Benefit plans and the Defined Contribution Retirement Plan, which was established on July 1, 2006, and address such topics as participation agreements, payment of contributions, member plan education, beneficiary designations and much more.

Once ready, the manuals will be distributed electronically and will be posted as a PDF on the Division web site. Watch for an announcement later this month.

PERS and TRS publications available online

CAFR cover collage CAFR cover collage

Note: The Fiscal Year 2010 Comprehensive Financial Reports (CAFRs) for the PERS and TRS are now available online.

The following PERS and TRS publications are available at the "Publications" link (under the "Resources" menu) on the Division of Retirement and Benefits website:

PERS Publications

TRS Publications

To navigate to any Division reports, follow these steps:

  1. Go to the Division's website at alaska.gov/drb
  2. Under the "Resources" drop-down menu, click on "Publications"
  3. Click on the appropriate system, plan or fund.
  4. Select the report you want to view.

If you prefer a hard copy of these reports, please contact the Division of Retirement and Benefits at
(907) 465-5711.

Updated Forms and Brochures

The following forms and brochures have been updated since the last newsletter. Please be sure to use only the updated forms. Printing from the Forms & Brochures page on the Division website will assure you always have the most current version.

Form No. Description
sbs008 SBS-AP Incoming Transfer/Direct Rollover Government 401A DC Plan
02-822 Beneficiary Designation (for DB active and deferred members)