Alaska Statutes 37.15.903 – Pension obligation bond limit
Current as of: 2023 | Check for updates
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Terms Used In Alaska Statutes 37.15.903
- Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
- state: means the State of Alaska unless applied to the different parts of the United States and in the latter case it includes the District of Columbia and the territories. See Alaska Statutes 01.10.060
The total unpaid principal amount of bonds, including refunding bonds, but excluding refunded bonds, issued by all state entities added together, for the purposes of financing prepayment of all or a portion of a governmental employer’s share of unfunded accrued liability of retirement systems, may not exceed $1,500,000,000 or a funding ratio of actuarial assets to accrued liability greater than 85 percent, whichever is less.