Employer News | September 2017

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In This Issue

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Employer Services


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Bona Fide Separation of Employment in Public Notice September 20th

The Bona Fide Separation regulations developed from the policy of the same name released last month will be in public notice as of September 20th. The regulations will be published on our web site on that date and the notice will appear in the State of Alaska Online Public Notice accessible from the State web page at alaska.gov. Copies of the regulations are also available upon request. Employers are encouraged to comment on the regulations or to submit questions regarding how the regulations will be applied within the 30 day public notice period. It is anticipated the regulations will be adopted in November and will go into effect on December 1, 2017. The regulations will not be applied retroactively to members who retired prior to that date. 

In October an online training session for employers and hiring managers will be sponsored by the Division to explain how the regulations will be applied. Please contact Roberto Aceveda, Counseling and Education Manager, for more information regarding dates and times for this training. Email notification will be sent to employers with enrollment information prior to the training session.

Public Employees' Deferred Compensation Plan

January 1, 2018 marks the date political subdivisions and school districts will be able to begin participation the Public Employees’ Deferred Compensation Plan if they elect to do so. Employers may add this plan even if they already have a 457 plan.

As part of our employer rollout of the Deferred Compensation Plan (DCP), we will be sponsoring webinars in November hosted by Roberto Aceveda, DRB Counseling and Benefits Manager, and Liz Davidsen, Empower’s Alaska State Director. Marilyn Collister, Empower's Senior Director of Legislative and Regulatory Affairs will be joining to discuss your fiduciary duty. Watch your inbox for an email from Roberto Aceveda with more information and a link to schedule your meeting.

Employers who choose to participate in the State DCP plan will provide their employees with an additional retirement savings plan that will help them save for their future with no cost to join and no requirement for employer matching contributions. Participants will pay group fees negotiated by the State of Alaska that may be lower than those currently experienced. This means more of every participant dollar contributed will go to personal investments. The investments are overseen and chosen by the Alaska Retirement Management Board. The State plan offers:

  • Local advisors to educate and assist your employees to be more retirement ready
  • Professional, online financial advice services with a federally registered investment advisor
  • Ability to enroll in a fee-based professional management program if desired
  • 24/7 website and automated phone access
  • Staffed customer service center open weekdays from 8 a.m. to 5:30 p.m. Alaska time

More information regarding enrollment information will be provided in the October Employer News. If you would like to sign up for materials regarding the plan, please contact your regional counselor.