Substitute teachers should not be enrolled in the Teachers' Retirement System (TRS). This includes day-to-day substitutes and long term substitutes filling in for teachers who are absent for extended periods. Membership in the TRS is defined under Alaska Statute (AS 14.25.220), and includes full- and part-time teachers. Statutes clearly exclude “teaching as an assistant or graduate assistant, or teaching on a substitute, temporary, or per diem basis” from eligibility for TRS membership.
Since these positions are considered nonpermanent, they are also not eligible for PERS.
Do your employees know about their retirement benefits? Do they wonder how to choose the right investments options in their defined contribution plans? Your employees will get answers to these questions and more when they attend a Benefits Fair.
The next Benefits Fair is scheduled for Fairbanks March 29-31, 2012, at the Fairbanks Princess Hotel. The Fair will cover a wide range of topics for all members of the Public Employees’ Retirement System (PERS) and the Teachers’ Retirement System (TRS), from those newly hired to those ready to retire.
Educational opportunities will include seminars on retirement eligibility and pension decisions, AlaskaCare health plans for active employees and retirees, financial education, Social Security and Medicare. As additional details become available, they will be posted on alaska.gov/drb.
We encourage you to offer a flexible workweek, or a liberal leave policy, so employees can be away from the worksite for this important event. Allowing your employees access to benefit education shows that you care about their future.
Throughout the year, the Division offers seminars to help educate employees about their defined benefit or defined contribution plans, the retirement process, and financial planning. Some of the upcoming seminars are listed below.
An overview of the Defined Contribution Retirement Plan (PERS Tier IV and TRS Tier III) targeted at participants, supervisors, hiring managers, and line managers.
A seminar for TRS members who are interested in retirement eligibility, the retirement process, pension options, forms, timing of benefits and enrollment in the State of Alaska Retiree Health Insurance Plan.
A class for employees to learn more about the Supplemental Annuity Plan and the Alaska Deferred Compensation Plan (DCP) available only to State employees.
State of Alaska policy allows employees to attend a Retirement and Benefits-sponsored seminar during their regularly scheduled workday and have the time counted as work time. Approval to be away from the work site must be secured from the supervisor in advance.
For more information on upcoming seminars, or to enroll, please go to the Division’s Seminar Web page.
To navigate to any Division reports, follow these steps:
If you prefer a hard copy of these reports, please contact the Division of Retirement and Benefits at (907) 465-4460.