Dear GGU Member:

If you have not yet vested in the Public Employee Defined Benefit Retirement System you may have recently received or will receive in the future a message from the State of Alaska informing you that you can convert from the Defined Benefit Retirement System to the Defined Contribution Plan that was established in SB 141.

I urge you to carefully consider the impact on you and your future retirement income prior to making a decision to convert to the Defined Contribution Plan. Please click on the following link for a summary of the advantages of the Defined Benefit Retirement System as compared to the Defined Contribution Plan:

• ASEA Analysis of Conversion from Defined Benefit to Defined Contribution 

Remember if you make the decision to convert to the Defined Contribution Plan you can not later change your mind and go back to the Defined Benefit Retirement System.

Please feel free to contact any union business agent, union steward, or me if you have further questions.

Jim Duncan
Business Manager