SB 141 Summary

• Creates the Alaska Pension Trust Reserve Fund within the general fund to serve as a reserve for Alaska's retirement systems, managed by the Alaska Retirement Management Board.

• Requires the Retirement Management Board to conduct annual actuarial assessments of the Public Employees' Retirement System and Teachers' Retirement System, calculating asset values and the ratio of assets to liabilities.

• Mandates transfers from the reserve fund to either retirement system if their asset-to-liability ratio falls below 50 percent, bringing each system back to that threshold.

• Allows for repayment of appropriations from the budget reserve fund if combined retirement system and reserve fund assets exceed 95 percent of combined liabilities.

• Takes effect June 30, 2012.