Senate Finance hears that Alaska pension plans remain underfunded as ARM board evaluates 15‑year amortization State officials told the Senate Finance Committee on Feb. 9 that PERS faces a $5.1 billion unfunded liability (70.3% funded) and TERS $1.6 billion (79.8% funded); projections assume a 7.25% return and a 15‑year layered amortization aiming for full funding by 2039, requiring roughly $2.5 billion in additional past‑service contributions.

Alaska's pension plans reveal staggering unfunded liabilities of over $6 billion, sparking urgent discussions on funding solutions and future projections.

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