Pension Board Doubles Accrual Rate for Plan Year 2007

The Board of Trustees of the Alaska Teamster-Employer Pension Plan met September 24, 2007 and, based on advice from the Actuary and Investment Manager, raised the accrual rate from 1% to 2% for the 2007 Plan Year ( July 1, 2006 through June 30, 2007).

Chairman Ken Coleman explained to members in the meetings around the state that while the fund returned over 17% for the most recent fiscal year, the unpredictable nature of the current investment markets pressed the Board to take a conservative approach to benefit increases. Additional information will be coming to Pension Plan participants in a separate mailing.