 SEPTEMBER 2017 | VOLUME 145
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.
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.
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