Alaska Notice Regarding Introduction of Restricted Share-Based Remuneration Plan
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How to fill out Notice Regarding Introduction Of Restricted Share-Based Remuneration Plan?
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FAQ
CalPERS offers a defined benefit plan where retirement benefits are based on a formula, rather than contributions and earnings to a savings plan. Retirement benefits are calculated based on a member's years of service credit, age at retirement, and final compensation (average salary for a defined period of employment).
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.
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.
PERS Retirement Eligibility Age 60 for normal retirement or age 55 for early retirement if you first entered the PERS on or after July 1, 1986 (Tier II or Tier III).
Age 60 for normal retirement or age 55 for early retirement if you first entered the PERS on or after July 1, 1986 (Tier II or Tier III).
Eligible recipients, who have not received pension benefits during the entire preceding calendar year, will receive a prorated PRPA. If you meet these requirements or are age 60 to 64 on July 1, 2023, you will receive 50% (3.948%) of the Consumer Price Index (CPI) change during 2022.