AK WORK & SAVE PROGRM
Sponsored By: Bill Wielechowski (Democratic)
Became Law
Your PRIA Score
Personalized for You
How does this bill affect your finances?
Sign up for a PRIA Policy Scan to see your personalized alignment score for this bill and every other piece of legislation we track. We analyze your financial profile against policy provisions to show you exactly what matters to your wallet.
Bill Overview
Analyzed Economic Effects
2 provisions identified: 0 benefits, 0 costs, 2 mixed.
Automatic retirement saving for workers without plans
Beginning January 1, 2027, Alaska runs a state retirement program called Alaska Work and Save. Employers that do not offer a qualified plan must help employees enroll and set up payroll deductions. Workers are automatically enrolled at a default rate with automatic increases, but can change the rate or opt out anytime. Anyone who earns pay in Alaska can join, and accounts are portable, allow withdrawals, and can also receive PFD deposits. The administrator serves as trustee, offers investment options, may hire private managers, and can charge fees but must keep them low. The state does not guarantee investment returns, and you bear investment risk. Your account details and any complaint you file are kept confidential, and there is a complaint process if an employer fails to help employees enroll.
Direct your PFD to savings or charities
Beginning January 1, 2027, you can ask the state to send part or all of your PFD to an investment account, a Work and Save account, two listed public funds, or eligible schools, community foundations, or charities. Online filers can choose $25, $50, $75, $100, or larger amounts in $50 steps, up to the full PFD, and set a priority order if choices exceed the PFD. The application warns that 7% of your chosen contribution pays administrative costs, so the recipient gets less. The state keeps a public, searchable list of eligible recipients, and gives you a tax-ready statement of your contributions. Organizations generally have 7% of their prior-year PFD gifts withheld as a coordination fee, but this fee does not apply to Work and Save accounts, the Crime Victim Compensation Fund, or the Peace Officer and Firefighter Survivors’ Fund. If you send your PFD to an investment account, you take the investment risk. The permanent fund itself cannot be used to pay the contribution system’s administrative costs.
Sponsors & Cosponsors
Sponsor
Bill Wielechowski
Democratic • Senate
Cosponsors
There are no cosponsors for this bill.
Roll Call Votes
No roll call votes available for this bill.
Actions Timeline
(H) -- Public Testimony --
5/15/2026House(H) FINANCE at 06:00 PM ADAMS 519
5/15/2026House(H) REFERRED TO FINANCE
5/7/2026House(H) FN5: (REV)
5/7/2026House(H) FN3: INDETERMINATE(REV)
5/7/2026House(H) AM: D.NELSON
5/7/2026House(H) NR: COULOMBE, CARRICK, SADDLER
5/7/2026House(H) DP: FRIER, HALL, FIELDS
5/7/2026House(H) TITLE CHANGE: HCR 18
5/7/2026House(H) L&C RPT HCS(L&C) NEW TITLE 3DP 3NR 1AM
5/7/2026House(H) Moved HCS CSSB 21 (L&C) Out of Committee -- Delayed to 10 min. Following Session --
5/4/2026House(H) LABOR & COMMERCE at 03:15 PM BARNES 124
5/4/2026House(H) CROSS SPONSOR(S): SADDLER
5/4/2026HouseAudio/Video
5/4/2026House(H) CROSS SPONSOR(S): COSTELLO
5/1/2026House(H) Heard & Held -- Delayed to 5 min. Following Session --
4/29/2026House(H) LABOR & COMMERCE at 03:15 PM BARNES 124
4/29/2026HouseAudio/Video
4/29/2026House(H) L&C, FIN
4/24/2026House(H) READ THE FIRST TIME - REFERRALS
4/24/2026House(S) VERSION: CSSB 21(FIN)
4/22/2026Senate(S) TRANSMITTED TO (H)
4/22/2026Senate(S) EFFECTIVE DATE(S) SAME AS PASSAGE
4/22/2026Senate(S) PASSED Y15 N4 E1
4/22/2026Senate(S) READ THE THIRD TIME CSSB 21(FIN)
4/22/2026Senate
Bill Text
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