• Home
  • Biography
  • Priorities
  • Legislation
  • Photos
  • In The News
  • Newsletter
  • Press Releases
  • Contact

Archive for March, 2011

Alaska Redistricting Board Meeting in Ketchikan

Wednesday, March 23rd, 2011

The Alaska Redistricting Board will hold a public meeting in Ketchikan on March 26th to discuss the upcoming reapportionment.  The board is responsible for redrawing Alaska’s legislative districts every ten years after the federal census.  The meeting will be held at the Ketchikan Gateway Borough Assembly Chambers at 12pm, and will offer a chance for public comment.  Additionally, the board will conduct a public hearing via statewide teleconference on March 31.

Tags: Alaska Redistricting, Bert Stedman, Ketchikan
Posted in News & Comment | No Comments »

Capital Budget Testimony

Thursday, March 17th, 2011

This week the Senate Finance Committee is reviewing the Governor’s FY12 Capital Budget. The Governor’s budget proposes spending over $1.6 billion on infrastructure investments, including $645 million from the state general fund.

Capital spending stimulates private sector employment and has a tremendous impact on Alaska’s local economies. With a weak national economy, soft housing market and stagnant job growth, this year’s budget is especially critical. This budget will be developed with full public participation. These projects were vetted in an unprecedented, open and deliberative process.

On Thursday March 17th from 5pm-8pm the committee will be hearing public testimony on the proposed budget. If you wish to participate please visit your local Legislative Information Office (LIO). I look forward to hearing from Alaskans and working with colleagues to address our state’s infrastructure needs.

Tags: Bert Stedman, Capital Budget
Posted in News & Comment | No Comments »

Welcome Southeast Conference

Wednesday, March 9th, 2011

I’m pleased to welcome Southeast Conference to Juneau this week for their annual Mid-Session Summit. Southeast leaders are in town to discuss issues vital to Southeast, Alaska including energy, transportation, tourism, economic development and a host of other topics. We are pleased to have them in Juneau, and I appreciate their service.

Tags: Bert Stedman, Southeast Conference
Posted in News & Comment | No Comments »

Energy Council

Tuesday, March 8th, 2011

This past week I attended the Energy Council’s annual meeting in Washington D.C.  The meetings were a great opportunity to discuss energy policy and update policy-makers on issues important to Alaska.

While in Washington, I joined a delegation from Sitka to speak with the Federal Energy Regulatory Commission (FERC) regarding Southeast Alaska hydroelectric projects. I also met with Alaska’s Congressional Delegation, and had meetings at the Department of the Interior and the White House.

It was a very productive and fast-paced trip. I’ve served on the Energy Councils’ executive committee for several years, and consider the conference a key part of our continued efforts to develop Alaska’s energy resources.

Tags: Bert Stedman, Energy Council, FERC, Hydro
Posted in News & Comment | No Comments »

Alaska Public Retirement System Challenges

Wednesday, March 2nd, 2011

Recently the Senate Finance Committee received a briefing on the status of Alaska’s public retirement system.

The state retirement and benefits program supports nearly 70,000 Alaskans, and constitute our state’s largest public trust accounts.  During the past ten years, Alaska’s retirement system has faced several complex and daunting financial challenges.  It’s important to understand the significant liabilities our state’s pension system faces, and the reforms the legislature adopted.   

Ensuring the health of Alaska’s public retirement system has been one of my top legislative priorities. In 2005, I took a lead role changing the state’s retirement plan and establishing the defined contribution system for teachers and public employees. At the time, our state’s retirement system faced a surprising $5.7 billion unfunded pension liability.  In response, the legislature has taken a series of decisive steps to address the problem.

Over the last 7 years, the legislature has deposited $1.6 billion into the PERS/TRS retirement trusts. We also capped local retirement contributions at 22% of payroll.   This helped prevent excessive employer contribution rates from devastating school budgets and crippling Alaskan communities. Providing this financial relief also averted substantial increases in property taxes on Alaskans.

Despite significant reforms, our state’s pension system remains only 63% funded for public employees (PERS) and 54% funded for teachers (TRS).  Alaska’s unfunded pension liability is over $11 billion. For the FY12 budget, the state’s required contribution will be another $478 million, an increase of $120 million over last year. Within 10 years, the state’s required payment is expected to exceed $1 billion annually.  While the Legislature is responsible for funding these public benefits, their cost is shared by every Alaskan and I do not support reversing the positive reforms we’ve made to the retirement system.

It’s critical that we attract and retain excellent teachers and public employees.  We owe these hardworking employees competitive salaries and good benefits. Alaska has been a leader amongst other states in establishing a defined contribution plan that accomplishes both. Our plan offers generous health benefits and gives employees the freedom to select a variety of financial options to manage their own retirement investments.  It also gives Alaskans the right to take their savings with them should they decide to leave public employment.

I’m glad we reviewed these important issues as a committee, and look forward to working with colleagues to address the liabilities Alaska faces in the future.

Tags: Bert Stedman, Public Retirement System
Posted in News & Comment | No Comments »

State Capitol, Room 30
Juneau, AK 99801-1182
907-465-3873
907-465-3922 - Fax
877-463-3873 - Toll Free
Email Senator Stedman

  • Recent Posts

    • Sen. Sullivan, USCG Admiral Schulz Visit Sitka
    • M/V Tazlina Christened
    • Elks Association Honors Mike Luhr as “Grand Exalted Ruler”
    • Appointment to National Petroleum Council
    • It Is Time to Constitutionally Protect All of Your Permanent Fund
  • Pages

    • Biography
    • Contact
    • In The News
    • Legislation
    • Newsletter
    • Photos
    • Press Releases
    • Priorities
  • Archives

    • August 2018
    • July 2018
    • June 2018
    • May 2018
    • April 2018
    • March 2018
    • January 2018
    • November 2017
    • October 2017
    • August 2017
    • May 2017
    • April 2017
    • March 2017
    • January 2017
    • October 2016
    • September 2016
    • August 2016
    • July 2016
    • June 2016
    • May 2016
    • April 2016
    • March 2016
    • February 2016
    • December 2015
    • November 2015
    • October 2015
    • September 2015
    • August 2015
    • July 2015
    • June 2015
    • April 2015
    • March 2015
    • February 2015
    • October 2014
    • July 2014
    • April 2014
    • March 2014
    • February 2014
    • October 2013
    • July 2013
    • April 2013
    • March 2013
    • February 2013
    • January 2013
    • October 2012
    • September 2012
    • July 2012
    • June 2012
    • May 2012
    • April 2012
    • March 2012
    • February 2012
    • January 2012
    • November 2011
    • October 2011
    • September 2011
    • July 2011
    • June 2011
    • May 2011
    • April 2011
    • March 2011
    • February 2011
    • January 2011
    • December 2010
    • November 2010
    • October 2010
    • September 2010
    • August 2010
    • May 2010
    • April 2010
    • March 2010
    • February 2010
    • January 2010

Copyright © 2019 - Bert Stedman | Entries (RSS) | Comments (RSS)