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Alaska House passes gov’s pension plan

By Associated Press 9:56 PM April 17, 2014
JUNEAU –

The Alaska House has passed Gov. Sean Parnell’s plan for taking $3 billion from savings to address the state’s unfunded pension obligation.

Lawmakers rejected a proposed amendment to tighten language to fix annual payments to the teachers’ and public employees’ retirement system at $343 million and $157 million, respectively. But Rep. Cathy Munoz said that language took away some flexibility. The bill calls for payments up to those amounts.

Another proposal, to remove the specific annual payments altogether, was withdrawn. Rep. Charisse Millett said she was leery of putting a dollar amount in statute, given the state’s tough budget outlook, and wanted to at least have the conversation.

HB385 passed 38-2.

It now goes to the Senate, where Finance Committee members have been studying different possible approaches to the issue.

(Copyright 2014 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.)

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