HB 256 Information Concerning Retirees

June 28, 2016

The Alaska legislature has recently submitted their budget bill, HB 256, to the Governor for approval. There is language in that bill that asks for a feasibility study to be done concerning moving retiree pension/health benefit trust asset investment and management responsibilities from the Alaska Retirement Management Board (ARMB) to the Alaska Permanent Fund Corporation (APFC).

After careful review of such a transfer, and discussion with members of the ARM Board, RPEA feels this would not be in the best interests of retirees or the trust that funds our pensions and health benefits.

The documents below explain the issue and the concerns involved.

HB 256 - Explanation of ARMB management transfer issue

HB 256 - RPEA Letter to Governor

Response to RPEA President Sharon Hoffbeck

ARMB Resolution - Legislative Intent Concerning Management Transfer