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House strips retirement plan from education bill

By Associated Press 6:25 PM April 7, 2014

The Alaska House has voted to remove a plan to address the teachers’ retirement system from a broad-ranging education bill.

Gov. Sean Parnell had urged lawmakers to do so, arguing the issues should be looked at separately.

The vote was 37-3. It was part of the overall debate on the education bill, which began late Monday afternoon.

Parnell had proposed moving $3 billion from the constitutional budget reserve toward addressing Alaska’s nearly $12 billion unfunded pension obligation, with $1.1 billion going toward the teachers’ retirement system.

The House Finance Committee’s rewrite of Parnell’s education bill proposed putting $1.4 billion toward the teachers’ system and another $100 million toward a reserve fund.

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 This material may not be published, broadcast, rewritten or redistributed.)

 

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