Defined Contribution Plans
- Defined Contribution Retirement Plan
- You are automatically enrollmed in this plan if you entered state service after June 30, 2006. The Defined Contribution Plan is mandatory for all PERS Tier IV and TRS Tier III permanent employees.
- The Alaska PERS/TRS Defined Contribution Retirement (DCR) Plan is a defined contribution plan governed by section 401(a) of the Internal Revenue Code. A portion of your wages and a matching employer contribution are made to this plan before tax. These contributions plus any change in value (interest, gains and losses), and minus any Plan administrative fees or other charges, are payable to you or your beneficiary at a future date. The PERS/TRS DCR Plan is a participant-directed plan with investment options offered by the plan. The providers of these investment options were selected by the Alaska Retirement Management (ARM) Board. Great-West Retirement Services administers the DCR plan.
- Deferred Compensation Plan
- The Deferred Compensation Plan is voluntary. Any permanent employee, long-term non-permanent employee, or elected official of the State of Alaska may participate.
- The Compensation Plan allows you to voluntarily set aside a portion of your income before it is taxed. The amount set aside, plus any change in value (interest, gains and losses), is payable to you or your beneficiary at a future date. Upon becoming eligible to participate in the Plan, you may elect to defer your income on a pre-tax basis. By doing so, you agree to reduce your salary by an agreed-upon amount. This amount may not exceed certain requirements (outlined in this DCP Information brochure). Great-West Retirement Services administers the Deferred Compensation Plan.
- Supplemental Annuity Plan
- This plan is available to employers who are participating in the PERS and do not have an active Section 218 Agreement with the Social Security Administration. SBS-AP is a defined contribution plan governed by section 401(a) of the Internal Revenue Code. A portion of members’ wages and a matching employer contribution are reported pre-tax to this Plan. State of Alaska employee contributions to this plan are made in lieu of contributions to Social Security. Contributions and any change in value (interest, gains and losses) are payable to a member or their beneficiary after termination from the Plan. Great-West Retirement Services administers the Supplemental Annuity Plan.
Defined Benefit Plans
The following Defined Benefit Plans apply to employees who entered state service before June 30, 2006. Find out which tier you are in.
Health and Optional Benefits
- AlaskaCare Employee Health Plan
- AlaskaCare is a flexible benefits program for eligible employees. AlaskaCare gives you an opportunity to select the options and levels of coverage that reflect your own personal needs, lifestyle, and situation.
- AlaskaCare Retiree Health Plan
- The State of Alaska retirement systems provide extensive and valuable benefits for you and your family including hospitalization, medical, surgical, maternity care, and other services necessary for the diagnosis and treatment of an injury or disease. Please check the current booklet for the most up-to-date and complete information about health benefits.
- Optional Benefits
- Optional Benefits Supplemental Life Packages include:
- Supplemental Life,
- Supplemental Accidental Death and Dismemberment, and
- Supplemental Survivor Benefit.
- Select Life
- As an employee of the State of Alaska you may choose to enroll in Select Life Insurance. Enrollment may occur at time of hire ( within 30 days), or during open enrollment.