An Act relating to supplemental employee benefits; relating to retirement benefits of peace officers and firefighters hired after June 30, 2006; and providing for an effective date.

This bill establishes a supplemental retirement benefits program for Alaska employees hired after June 30, 2006, specifically targeting peace officers and firefighters. Under the new rules, employers must contribute a set percentage of wages into individual employee accounts, which can be used to purchase optional benefits such as health, death, disability, and dependent care coverage. The legislation also adjusts contribution rates for teachers and allows certain active employees to opt into the supplemental plan if their employer is not already participating. These changes are scheduled to take effect on July 1, 2025.