The State of Alaska created the Public Employee Retirement System (PERS) in 1961 to provide a retirement system for state and public education employees and participating municipal employees. Indebtedness can be established to the Public Employees' Retirement System (PERS) account for several reasons. A prior refund of PERS contributions, qualified claimed service and deficient Contributions.

Source: Alaska Department of Administration, Retirement and Benefits

City and Borough of Wrangell