An Act establishing the Alaska Work and Save Program; establishing the Alaska Retirement Savings Board; and providing for an effective date.

This bill creates the Alaska Work and Save Program, a retirement savings initiative managed by the Alaska Retirement Savings Board, and allows residents to automatically divert a portion of their Permanent Fund Dividend into the program or other designated funds. Under the new rules, employees at employers who do not offer qualified retirement plans would be automatically enrolled in the program, with their contribution rates increasing over time unless they opt out. The legislation also establishes a public database for eligible charitable organizations and funds, mandates that the Department of Revenue provide tax statements to contributors, and sets aside a seven percent coordination fee from contributions to cover administrative costs, excluding the Work and Save Program accounts and specific victim compensation funds from this fee.