An Act relating to restoration of tenure for certain disabled individuals; relating to the Public Employees' Retirement System of Alaska and the teachers' retirement system; providing certain employees an opportunity to choose between the defined benefit and defined contribution plans of the Public Employees' Retirement System of Alaska and the teachers' retirement system; and providing for an effective date.

SB 27 restores teaching positions for Alaska teachers who retired due to disability but later recover, as certified by a physician or vocational rehabilitation program. It also gives public employees in Alaska's retirement systems (including teachers) the option to choose between traditional pension plans (defined benefit) and investment-based retirement accounts (defined contribution). The bill amends retirement laws to allow this choice, with specific contribution rates adjusted for new participants. These changes directly affect disabled teachers seeking reinstatement and public employees managing retirement benefits.