Alaska Equity Incentive Plan
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FAQ
Recorded $257 million of incentive pay in 2022 earned by employees for meeting or exceeding profitability, safety and emissions targets. The payout is the richest in the 20-year history of the plan, representing nearly six weeks of pay for most employees.
Contribution Amounts Each pay period, 8% of your gross eligible compensation is contributed to your retirement account through payroll deductions before it is taxed. If you are a PERS participant, your employer will contribute an additional 5% of your gross eligible compensation to your retirement account.
The State of Alaska 457 Deferred Compensation Plan (DCP) allows you to set aside and invest a portion of your income for your retirement on a voluntary basis. It is designed to complement the Alaska SBS Supplemental Annuity Plan and the Alaska PERS/TRS Retirement Plan.
The employer contribution rate for FY 2023-24 will increase from 25.37% to 26.68% of payroll, effective with the first payroll period ending in July 2023.
Alaska Supplemental Annuity Plan The SBS-AP is a defined contribution plan governed by section 401(a) of the Internal Revenue Code. Your contribution to the plan equals 6.13% of your gross pay up to the current Social Security maximum. Your contributions are deducted from pre-taxed income and are matched by the state.
