ASEA/AFSCME Local 52 Breaktime Reading
Mar. 15, 2005
Legislative Alert--SB141
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SB141 raises retirement costs for present employees and substitutes an inferior investment-based retirement plan for new employees.

*** SHORT NOTICE *** This legislation originated in the committee to which it has been referred. A Senate Finance Committee hearing has been scheduled with less than 48 hours notice. Maneuvering of this kind discourages participation!

HEARING: (S) FIN Mar 16 9:00 AM SENATE FINANCE 532 TELECONFERENCE

Check for the current status of SB 141 on the ASEA Political Action Committee (PAC) pages or contact a legislator to submit a Public Opinion Message.
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For current state employees, SB141 may require employee contributions toward PERS (presently 6.75%) to be increased by up to 5% annually until the retirement program is half-funded by employee contributions.

In addition to directly affecting current employees like you, SB 141 discards the retirement benefits for new public employees that encouraged many of you to make a career of state service. Under this bill, retirement benefits for new state employees are drastically reduced by substituting an inferior and undefined investment-based benefit.

Medical retirement benefits for new state employees are also under attack. Only those who retire directly from the system will receive coverage under the plan. This "take it or leave it" approach to medical benefits decreases the appeal of state service to young professionals.

Supporters of this bill are willing to trade away a generation of qualified and professional state employees to avoid extending retirement system benefits.

ASEA/AFSCME Local 52 OPPOSES SB141.
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Please contact the members of the Senate Finance Committee to ask them to oppose SB 141.

Senate Finance Committee
Co-Chair Sen. Lyda Green (R)-Palmer
Co-Chair Sen. Gary Wilken (R)-Fairbanks
Vice-Chair Sen. Con Bunde (R)-Anchorage
Sen. Fred Dyson, (R)-Eagle River
Sen. Bert Stedman, (R)-Sitka/Ketchikan
Sen. Lyman Hoffman, (D)-Bethel
Sen. Donald Olson (D)-Nome
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A printable version of this Legislative Alert is available for posting.

http://www.afscmelocal52.org/aseadocs/leg-alert_sb141.pdf 
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For more information, contact ASEA Information Officer Reber Stein by email  or by phone at the ASEA Juneau Office.