Alaska s 2 largest DB plans net 27 6% for fiscal year pionline.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from pionline.com Daily Mail and Mail on Sunday newspapers.
Alaska court grants access for some to shuttered DB plans
Getty Images/iStockphoto
The Alaska Supreme Court ruled former employees and some current employees in the state s closed defined benefit plans are eligible for reinstatement in those plans.
The court s decision found that the state violated the Alaska Constitution when it repealed the statutes of the $22.1 billion Alaska Public Employees Retirement System and $10.4 billion Alaska Teachers Retirement System, allowing for reinstatement in those plans, according to the court s opinion posted on its website.
The systems defined benefit plans consisted of three different tiers of participants until July 2006, when the DB plans were closed and new hires were placed on defined contribution plans.