With the state of Alaska struggling to hire and retain employees amid the “Great Resignation,” state legislators are more earnestly considering new pension programs for state employees.
Lawmakers abolished pensions for new employees in 2006 amid a multibillion-dollar shortfall in the pension fund, replacing them with a 401(k)-style retirement system. Proposals to reverse that decision have been introduced with regularity since then, but none have come close to becoming law. This year, unprecedented hiring problems and a shrinking pension liability are changing the equation.
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