Senate passes public pension reform after years of failed efforts

The Alaska Senate on Tuesday passed a bill to reform the state’s pension system for public employees, ending months of debate on future retirement benefits for Alaska’s state and municipal employees, including teachers and police officers.

The measure aims to address the consequences of a 2006 decision by Alaska lawmakers to eliminate the state pension plan that guaranteed income in retirement, and replace it with a 401(k) style plan that has since left many public-sector workers without the funds to retire securely.

Union leaders and other public-sector advocates have been warning since the 2...