An Act establishing the Alaska Work and Save Program for employees who do not have access to a qualified retirement savings plan at work; relating to the duties of the commissioner of labor and workforce development; and providing for an effective date.
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Progress
Where this bill stands in the legislative process.
- Introduced
- Passed House
- Passed Senate
- To Governor
- Became Law
Overview
This bill establishes the Alaska Work and Save Program, designed to help employees who don't have access to a workplace retirement plan. The program allows individuals to direct a portion of their Permanent Fund Dividend towards a savings account. It also outlines the responsibilities of the Department of Revenue and commissioner of labor and workforce development in administering the program, including establishing contribution rates and providing information to participants. The bill aims to increase retirement savings opportunities for Alaskans.
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