All Roll Calls
Yes: 102 • No: 37
AlaskaSB 2134th Legislature (2025-2026)SenateWALLET
AK WORK & SAVE PRGRM; PFD INVESTMENT ACCT
Sponsored By: Bill Wielechowski (Democratic)
Vetoed
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Bill Overview
Analyzed Economic Effects
5 provisions identified: 1 benefits, 0 costs, 4 mixed.
Automatic retirement saving for Alaska workers
Beginning January 1, 2027, Alaska’s Department of Revenue runs Work and Save for workers without employer retirement plans. Eligible employees are automatically enrolled, with default payroll contributions and contribution increases; these reduce take-home pay. Participants can opt out, change contribution or increase rates, and add money outside payroll, within federal tax limits. Anyone earning pay in Alaska can voluntarily join, and accounts stay with participants when they change employers. The administrator serves as trustee, tracks each participant’s money separately, and provides investment choices. The program must adopt rules, prepare annual budgets, obtain outside performance reviews, and report its finances each regular legislative session. It can hire private providers, buy private insurance, and work with other governments to run the program.
Workers get retirement account privacy
Beginning January 1, 2027, Work and Save account details are confidential and excluded from public records. Protected details include names, contact details, identification information, contributions, earnings, and balances. Information can be shared as needed to run the program under tax laws, or with the account holder’s written permission. Employees who report employer noncompliance keep their identities private unless they waive that protection.
Alaskans can invest or donate dividends
Beginning January 1, 2027, eligible Permanent Fund Dividend applicants or their authorized representatives can send dividends to chosen investment accounts. Applicants bear the investment risk. The electronic application also allows contributions to Work and Save accounts, the crime victim compensation fund, and the peace officer and firefighter survivors’ fund. Listed educational organizations, community foundations, and charities can also receive contributions. Choices are $25, $50, $75, $100, or larger amounts in $50 steps, up to the full dividend. If choices exceed the dividend, the applicant’s priority order decides which contributions are paid. Directed money leaves less dividend cash available to spend. Seven percent of contributed amounts is designated for administration; the dividend fund cannot pay these administrative or investment-routing implementation costs. A separate coordination fee of up to 7%, based on prior-year reported contributions, can be withheld from organizations’ receipts. That fee excludes Work and Save accounts and both named public funds. Contributors receive tax-ready statements, and eligible organizations appear in a public, searchable list.
Retirement savers bear losses and fees
Beginning January 1, 2027, Work and Save participants keep account gains and bear investment losses. Alaska, the program, and its administrator guarantee no return or interest and are not liable for investment losses. They have no ownership claim to participant contributions or earnings. The administrator must minimize fees but can charge reasonable fees, including administration fees and insurance costs. Required disclosures explain benefits, risks, enrollment, opting out, withdrawals, and the lack of guaranteed performance.
Employers must help workers save
Beginning January 1, 2027, covered Alaska employers without qualified retirement plans must arrange payroll deductions for Work and Save. This applies to employers that have employed more than five other people in Alaska for at least three years. Employers do not become retirement plan sponsors and can still offer their own qualified plans. Employees can complain when employers fail to help them participate, and the administrator may investigate and provide employer training.
Sponsors & Cosponsors
Sponsor
Bill Wielechowski
Democratic • Senate
Cosponsors
Jeremy Bynum
Republican • House
Mia Costello
Republican • House
Maxine Dibert
Democratic • House
Ted Eischeid
Democratic • House
Alyse Galvin
Not • House
Andrew Gray
Democratic • House
Elvi Gray-Jackson
Democratic • Senate
Sara Hannan
Democratic • House
Ky Holland
Not • House
Andy Josephson
Democratic • House
Scott Kawasaki
Democratic • Senate
Donna Mears
Democratic • House
Dan Saddler
Republican • House
Calvin Schrage
Not • House
Jubilee Underwood
Republican • House
Robert Yundt
Republican • Senate
Roll Call Votes
Senate vote • 6/19/2026
GOVERNOR VETO SUSTAINED Y39 N21
Yes: 39 • No: 21
Senate vote • 5/19/2026
CONCUR AM OF (H) Y17 N3
Yes: 17 • No: 3
House vote • 5/18/2026
PASSED Y31 N9
Yes: 31 • No: 9
Senate vote • 4/22/2026
PASSED Y15 N4 E1
Yes: 15 • No: 4
Actions Timeline
(S) JOINT SESSION at 01:00 PM HOUSE CHAMBER
6/19/2026Senate(S) GOVERNOR VETO SUSTAINED Y39 N21
6/19/2026Senate(S) MOTION TO OVERRIDE VETO
6/19/2026Senate(S) VETOED BY GOVERNOR 6/18/26
6/19/2026Senate(S) 10:14 A.M. 6/1/26 TRANSMITTED TO GOVERNOR
6/4/2026Senate(S) COSPONSOR(S): KAWASAKI, YUNDT
5/19/2026Senate(S) EFFECTIVE DATE(S) SAME AS PASSAGE
5/19/2026Senate(S) CONCUR AM OF (H) Y17 N3
5/19/2026Senate(S) CONCUR MESSAGE READ AND TAKEN UP
5/19/2026Senate(H) VERSION: HCS CSSB 21(L&C)
5/18/2026House(H) TRANSMITTED TO (S) AS AMENDED
5/18/2026House(H) DIBERT
5/18/2026House(H) CROSS SPONSOR(S): JOSEPHSON, BYNUM, UNDERWOOD, HOLLAND, GRAY, MEARS, EISCHEID,
5/18/2026House(H) EFFECTIVE DATE(S) SAME AS PASSAGE
5/18/2026House(H) PASSED Y31 N9
5/18/2026House(H) READ THE THIRD TIME HCS CSSB 21(L&C)
5/18/2026House(H) ADVANCED TO THIRD READING UC
5/18/2026House(H) TITLE CHANGE: HCR 18
5/18/2026House(H) L&C HCS ADOPTED UC
5/18/2026House(H) READ THE SECOND TIME
5/18/2026House(H) RULES TO CALENDAR 5/18/2026
5/18/2026House(H) Moved HCS CSSB 21(L&C) Out of Committee -- Recessed to a Call of the Chair --
5/17/2026House(H) FINANCE at 09:00 AM ADAMS 519
5/17/2026House(H) CROSS SPONSOR(S): GALVIN
5/17/2026House(H) FN7: ZERO(REV)
5/17/2026House
Bill Text
Enrolled SB 21
5/19/2026
HCS CSSB 21(L&C)
5/7/2026
CSSB 21(FIN)
3/27/2026
CSSB 21(L&C)
4/9/2025
SB 21
1/22/2025