- Alaska Statutes.
- Title 39. Public Officers and Employees
- Chapter 30. Insurance and Supplemental Employee Benefits
- Section 150. Contributions.
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AS 39.30.150. Contributions.
- (a) In place of contributions to the federal social security system that would have been required on behalf of an employee
had the participating employer belonged to the social security system, the participating employer shall contribute an
amount equal to 6.13 percent of the wages of the employee up to the taxable wage base then in effect in the social
security system. This contribution shall be paid into an individual employee annuity account in the Department of
Administration under the terms of the State of Alaska Supplemental Annuity Plan. The department shall pay 6.13 percent
of the wages of the employee up to the taxable wage base then in effect in the social security system into the
individual employee annuity account established under this subsection. This wage reduction shall be treated as an
employer contribution under 26 U.S.C. 414(h)(2). All costs of establishing and administering the programs established
under AS 39.30.150
- 39.30.180 shall be paid from the contributions made
to the individual employee annuity accounts under this section.
- (b) Employees of the division of marine transportation included in AS 39.35.095 - 39.35.680 through the
process of collective bargaining under AS 39.35.680
(22)(D) may, under the terms of a collective bargaining agreement, utilize contributions made under (a) of this section
on their behalf to offset the costs of inclusion in the public employees' retirement system; however,
- (1) the state is placed under no obligation to continue making contributions under this section if the state resumes
participation in the federal social security system;
- (2) the bargaining agreement must provide a mechanism for satisfying any residual liabilities that might exist if the
state resumes participation in the federal social security system; and
- (3) funds contributed under (a) of this section on behalf of employees who are not covered by maritime union contracts may
not be obligated or expended to pay any costs associated with the inclusion of marine transportation employees in AS 39.35.095 - 39.35.680.
- (c) An employee may voluntarily elect additional wage reductions to be paid into special individual employee benefit
accounts in the Department of Administration. Money in these accounts may only be used to purchase benefits selected by
the employee under the supplemental benefits plan established by the administrator.
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