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Chenault says $2B may be 'top end' for pension issue

Posted: January 30, 2012 - 10:13pm

JUNEAU (AP) — House Speaker Mike Chenault says his initial impression is that $2 billion is probably the “top end” of what lawmakers would put toward Alaska’s unfunded pension liabilities.

The Senate Finance Committee is looking at the $11 billion in unfunded liabilities. Co-chair Bert Stedman recently said he couldn’t imagine the committee not dealing with the pension issue with an infusion of equity of greater than $1 billion and less than $4 billion. He wasn’t sure if the money would go into the system or a side account.

Legislation has been introduced creating a pension trust reserve fund and transferring $2 billion from savings to it. 

Chenault says he doesn’t think it’s a bad idea to pay down some costs. But he has questions about why the unfunded liabilities continue to mount.

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