AK SB21

Establishes the Alaska Work and Save Program in the Department of Revenue, requiring employers without qualified retirement plans to facilitate automatic enrollment of employees at a default contribution rate set by the administrator

Employees may opt out of the program, adjust contribution rates, or make additional contributions including from their Permanent Fund Dividend; any person earning compensation in Alaska may voluntarily enroll

The Commissioner of Labor and Workforce Development may impose civil penalties of up to $100 per eligible employee (capped at $5,000 per employer annually) for employers who fail to facilitate participation for six months

Amends the PFD application to allow direct contributions from dividend payments to participant accounts, with the program exempt from the 7% coordination fee charged to other charitable organizations

Takes effect January 1, 2026