Benefits

The State of Alaska boasts one of the best benefits systems in Alaska.

 

Vacation and Personal Leave

Employees accrue Personal Leave at about 2 days per month. Accrual rates increase after two, five and ten years of service. Accrued unused Personal Leave may be carried over from year-to-year and may be cashed-out by the employee during employment and/or post-employment.

 

Paid Holidays

Employees are ordinarily entitled to eleven paid holidays each year.

 

Group Medical Benefits

The State of Alaska pays the substantial cost for complete group health coverage. On comparison, cost to the employee is nominal. Different plans apply to select employee groups. Specific information may be viewed on the Division of Retirement and Benefits website at www.alaska.gov/drb

 

Supplemental Benefits System (SBS)

The State of Alaska does not participate in the federal Social Security System instead a defined contribution plan (IRS 401(a) is mandatory. The employee makes a defined percentage contribution of gross wages to this annuity plan which the state matches. Varied investment options are offered. Entire annuity account is payable, post-employment. Optional selection of life, survivor, disability and other care benefits are available.

 

Public Employees Retirement System (PERS)

The State of Alaska administers a comprehensive four-tiered plan system. New employees ordinarily are enrolled at Tier IV, a defined contribution plan. Both the employer and the employee contribute to the plan which affords varied investment and plan transfer options. At retirement age, major medical insurance is available to qualified employees.

 

Deferred Compensation Plan (DCP)

This plan permits optional deferral of pre-taxed gross wage income. Employees can choose from varied investment options. The plan account is payable, post-employment.