Alaska Work and Save

Nearly half of Alaska’s private-sector workers don’t have access to a way to save from their regular paycheck at work. Almost 73% of workers at Alaska businesses with fewer than 10 employees, and 66% at companies with between 10 and 24 employees, lack a plan. If not covered by an employer plan, only 5% of people save in an IRA. Americans are 15 times more likely to save for the future if they can do so out of their regular paycheck.

Alaska Work and Save is designed to address the retirement savings gap using proven tools, such as payroll deduction. Work and Save programs are state-facilitated, public-private retirement savings options.

MEMBERS ONLY

The state oversees and registers businesses, while the private sector manages and operates the investments. These programs are easy for employers and employees to use, and there are no ongoing costs or risks to employers or the state. Importantly, Work and Save includes both automatic enrollment and portability, leading to dramatic increases in participation that persist over time and across job changes.

Small Business Owner Video Endorsements
2026 Alaska Work and Save Fact Sheet
Summary - 2023 Alaska Small Business Owner Survey
SB21 Bill History and Text (Alaska Legislature)
2022 Voter Survey Results: The Importance of Retirement Savings Plans to the 50+

Business Supporter

Today, a secure retirement is out of reach for nearly half of Alaskan workers, especially those who work for themselves or for small businesses who don’t have access to a way to save for retirement at work.

Without a way for workers to save on the job, they may face retirement with Social Security as their only source of income, leaving them unable to afford basic needs in retirement and more likely to rely on public benefits like Medicaid and SNAP.