Alaska § 39.30.175 - Investment of benefit program receipts.
Full text of Alaska Alaska Statutes § 39.30.175 — Investment of benefit program receipts., with citation guidance and answers to common questions.
§ 39.30.175. Investment of benefit program receipts.
(a) The board is the fiduciary of the mandatory receipts, under AS 39.30.150 (a), of the employee benefits program established under AS 39.30.150 — 39.30.180 and has the same powers and duties concerning the management and investment in regard to those receipts as are provided under AS 37.10.220 .
(b) The board may provide a range of investment options and permit a participant or beneficiary of the program to exercise control over the assets in the individual employee annuity account established under AS 39.30.150 (a). If the board offers investment options, and if a participant or beneficiary exercises control over the assets in the individual employee annuity account, (1) the participant or beneficiary is not considered a fiduciary for any reason on the basis of exercising that control; and
(2) a person who is otherwise a fiduciary is not liable under this section for any loss, or by reason of any breach, that results from the individual's exercise of control.
(c) If the board is considering entering into a contract or modifying an existing contract concerning the management or investment of the mandatory receipts of the supplemental employee benefits program, the board shall consult with the commissioner of administration before making a decision on the issue.
(d) The board shall develop a contingency plan that addresses the board's response to possible future investment problems.
(e) Except to the extent clearly set out in the terms of the plan document offered by the employer to the employee, the employer is not liable to the employee for investment losses if the prudent investment standard has been met.
(f) [Repealed, § 132 ch 9 FSSLA 2005.]
Source: official Alaska text · Last verified 2026-08-27
Frequently Asked Questions About Alaska § 39.30.175
What does Alaska Statutes § 39.30.175 cover?
Section 39.30.175 ("Investment of benefit program receipts.") is part of the Alaska Statutes, the codified statutory law of Alaska. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Alaska § 39.30.175?
A common citation format is "Alaska Statutes § 39.30.175" (Alaska). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Alaska law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Alaska official source linked on this page or consult a licensed Alaska attorney.
How does Alaska § 39.30.175 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Alaska can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Alaska.