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	<title type="html"><![CDATA[Save Alabama PACT Discussion Forum]]></title>
	<link rel="self" href="http://www.savealabamapact.com/forum/feed-atom-forum10.xml"/>
	<updated>2010-04-08T20:27:56Z</updated>
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	<id>http://www.savealabamapact.com/forum/</id>
		<entry>
			<title type="html"><![CDATA[Montgomery Update 1 (copied)-4/8/10 (times are appx)]]></title>
			<link rel="alternate" href="http://www.savealabamapact.com/forum/topic212-montgomery-update-1-copied4810-times-are-appx-new-posts.html"/>
			<summary type="html"><![CDATA[10:39 am Rebecca Thrasher :  Ford is at the mic.

Ford: We do not want to go back home and tell these students we will not guaranteee their PACT
4 hours ago · Ford: I suggest that we pass this on to the Senate and go to conference committee
4 hours ago · 102:2 to pass budget and address the bill..

4 hours ago · Discussion has started --Mike Ball: UAH prior issues -- thinks that if this passes it will be ruled unconstitutional
4 hours ago · Ball: asks that we take the unseverability clause out
4 hours ago · Mitchell - Mobile - Concerned with other fees that are mandated by universities
4 hours ago · Bridges - Chambers Co - Thanks Ford for his work - wants the families of PACT have not been treated correctly. We need to honor the contracts for these families. This will set a record between AL and its families. We need a resolution to this issue
4 hours ago · Rodgers: Talking about SB322 -- off subject...threating to argue for SB322. Is this filibuster?
4 hours ago · Shannon Robbins Dalton Thank you for the updates....praying and biting my nails
3 hours ago · Gipson- Autauga- Compliment them SAP for tenasity - great to work with - etc.
Has a PACT holder that purchased 18 pacts - these people are concerned, well aware, and I ask that we get this to a conference committee to diiscuss further.
3 hours ago · Rebecca Thrasher Protem-WE need these people to work with us Constitutional reform as well. This group of PACT holders has been great - well informed, well spoken, good to work with. 
I hope we have groups like this for other bills!
3 hours ago · Wren: Discusses PACT board and need for better goverance on the PACT Board of the fund.
3 hours ago · Wren: HB123 & 124 -- discusses this as the formerly passes bills that are related to PACT. I would hope that we would not go forward with the future of PACT without some fundamental changes to the PACT BOARD. 
3 hours ago · Wren: Hopes the HB123 & 124 would move out of the SEnate committee --to move forward. 
We need a solution to assist in disapating and remidiating the legal action that is stacking up against the state.
3 hours ago · Ford: Asking the House members to encourage the Senate membership to bring HB123 and HB124 to the floor. 
3 hours ago · Galliher: I think Craig Ford has made a common sense arguement to pass this bill today and allow the Senate to go to a conference committee to discuss. 
3 hours ago · Unanimous vote to allow the changes from the Education Appropriation Committee.

3 hours ago · Hubbard: He is from an area with a college - Auburn Universitiy - this would be burden to the Universities budget. I think it is a problem that other students will have to pay for the other class of students. Why should other families have to voer the costs of those students... I do not want to kill your bill.I want it to be fair and with no poison bill.
3 hours ago · I think we need to add an ammendment - to take the caps off of the universities - I am not an enemy.
3 hours ago · Ford - requests a copy of the ammendment.
3 hours ago · In Ford's opinion -this ammendment would kill the PACT bill. Hubbard - the Senate would not never turn their backs on Higher Ed. 
3 hours ago · 50-37 Hubbard's 1st ammendment (removing the caps) defeated! 
3 hours ago · Hubbard - ammendment to change language to be severable - from unseverable. Remove "the poison pill"
3 hours ago · Hubbard - 41-47 - Motion fails...Ford takes the bill off the table. 
3 hours ago · They are entering a joint session - will be held until after that session.
3 hours ago · Senate and House of Reps -- they are honoring WWII Veterans
3 hours ago · Report]]></summary>
			<author>
				<name><![CDATA[Sheila]]></name>
				<uri>http://www.savealabamapact.com/forum/user11.html</uri>
			</author>
			<updated>2010-04-08T20:27:56Z</updated>
			<id>http://www.savealabamapact.com/forum/topic212-montgomery-update-1-copied4810-times-are-appx-new-posts.html</id>
		</entry>
		<entry>
			<title type="html"><![CDATA[2 tout annuity plan to rescue PACT]]></title>
			<link rel="alternate" href="http://www.savealabamapact.com/forum/topic82-2-tout-annuity-plan-to-rescue-pact-new-posts.html"/>
			<summary type="html"><![CDATA[In light of the uncoming study by RSA (Dr. Bronner), this older article like older suits and dresses, may become fashionable again....


2 tout annuity plan to rescue PACT

Thursday, April 09, 2009 
By BOB LOWRY
Times Staff Writer bob.lowry@htimes.com

Beason, Bentley push bill to protect 48,000 enrolled 

MONTGOMERY - Two legislators said Wednesday they plan to sponsor a bill to save the state's prepaid college tuition program through an annuity plan. 

Sen. Scott Beason, R-Gardendale, and Rep. Robert Bentley, R-Tuscaloosa, said they are having legislation drafted that would protect the 48,000 who are enrolled in the program now but phase it out within 20 years. 

Their plan calls for what Bentley called "an annuity-like" program that would be administered by the state treasurer's office. 

"We don't see any support out there for a bailout," said Bentley. 

Gov. Bob Riley and leaders of the PACT program are discussing having the Legislature set aside money each year to help the program, freezing tuition increases for participants for the next three years, and limiting the amount that tuition can rise after three years. 

Under the Beason-Bentley plan, the fund's assets, currently at roughly $435 million, would be invested as an annuity with the treasurer being the annuitant. 

"We would want to get 4 percent a year or about $33 million a year for the program," Bentley said, with the money being invested in fixed assets. 

Since that wouldn't be enough to fulfill the annual obligations, Bentley said the legislation would also generate an estimated $26 million a year by eliminating in-state tuition for students who enroll at some Alabama colleges within a 50-mile radius of the state border. 

That would affect many Alabama universities but not Auburn University or the University of Alabama - the two major PACT participants. 

"Actuarially, we've looked at it," said Bentley. 

"There will be a decrease in participants every year until it's phased out." 

Bentley said he and Beason had already talked with several large insurance companies that have assured them their plan would work. 

Beason said people are looking for a solution that does not take money from the education trust fund or depend on the Alabama Retirement System.]]></summary>
			<author>
				<name><![CDATA[msudog]]></name>
				<uri>http://www.savealabamapact.com/forum/user4.html</uri>
			</author>
			<updated>2009-05-27T01:44:05Z</updated>
			<id>http://www.savealabamapact.com/forum/topic82-2-tout-annuity-plan-to-rescue-pact-new-posts.html</id>
		</entry>
		<entry>
			<title type="html"><![CDATA[Kay Ivey Press Conference Today]]></title>
			<link rel="alternate" href="http://www.savealabamapact.com/forum/topic70-kay-ivey-press-conference-today-new-posts.html"/>
			<summary type="html"><![CDATA[Copied and pasted from email:
        PACT STUDENTS DESERVE ACTION BY LEGISLATURE

Media Release: by Kay Ivey, State Treasurer, May 13, 2009

On behalf of PACT purchasers, Parents, Grandparents and the PACT Board I come to underscore the work by many Legislators and Senators that continues -- it just must be completed for PACT by Friday. 

To keep PACT functioning to pay tuition for students currently enrolled in PACT, the Senate (and Legislature) has to pass some form of official authorization Thursday or Friday so the PACT Board has another option to consider when it meets May 20, 1 pm, State Capitol, 2nd Floor, Archives Room.

The PACT was created by the Alabama Legislature and only it can change the PACT Law.
The Pact Board operates only within the current--though outdated -- law that originated PACT in 1990 and the rules and regulations that govern 529 college savings plans. Absent authorization by the legislature, the PACT Board will be extraordinarily limited in its options, even though at its March 24, 2009 Board Meeting the Board members--all of us--voted unanimously to "keep Pact open". Lt. Gov. Folsom 5 times stated the Senate would fix this.

There are two actions the Legislature can take during the final two days of this Legislative Session: 1. Amend/Substitute HB747 to provide just a funding mechanism for PACT with no appropriations to be made in 2010; appropriations to be made in 0ct, 2011; or 2. Pass a strongly worded Resolution that strongly expresses the firm intent and support of the Legislature to find a solution during the 2010 Legislative Session. (Copy of recommended language available).

Absent legislation this session being passed or the absence of this empowerment to the Pact Board in the form of a strongly worded resolution, the PACT Board under current law has but few options.

In a May 11 Associated Press Article, Senators admit they have not been able to pass a bill (six bills have been before the Senate; only one is active, HB747), maybe they could pass a resolution. This same article stated even Governor Riley last week supported passing a resolution as maybe a fail safe back-up plan.

Resolutions are not legally binding; nor do they carry the weight of the law; but maybe, just maybe the courts will be lenient and accept a strongly worded resolution from the Alabama Legislature stating its strong support and intent that the Pact Program be continued and that the Legislature of the State of Alabama deems this course of action to be prudent in accord with the statutory responsibility of the PACT Board.

Even Monday May 11, in a conference call of Pact Committee: Lt. Gov. Folsom, Treasurer Ivey, and Chancellor Byrne, Lt. Gov. Folsom assured us he and Senator Bedford are still actively working on amendments and/or substitutions for HB747; there is still time, and this bill can pass. We are working to pass something this session he stated." 

The Senate is fully capable of achieving what it wishes to achieve. When the Senate wants a certain bill to pass or die, it does. If the Senate truly wants the Pact program to survive, even on life support, it will take action May 14 and May 15.  It’s important for parents and PACT purchasers and PACT Board to know the Senate leadership is working hard.

It is amazing that so many influential state officials, the Governor, the Lt. Governor, the Speaker, Senate Sponsors, and House sponsors of bills, all have repeatedly stated, "This is a moral obligation.

And yet, many say, "there's plenty of money in the Pact account; just liquidate assets to pay the tuition costs as needed; and later, maybe the Legislature will pass legislation in the next regular session of the Legislature".
The Pact Board which is legally responsible for the proper administration of PACT must and does operate within the law, the prudent man rule, and other financially binding rules and regulations. It does not have the flexibility of just hoping, waiting and maybe...The Board has to treat all PACT enrollees fairly.

Therefore, absent Legislation, and absent maybe a strongly worded Resolution, the Pact Board has few choices to consider May 20. The Alabama Legislature can and should TAKE ACTION NOW to provide more options for the PACT Program.  I am optimistic they can and will.

I trust this update and call to action is also helpful to Parents and PACT purchasers.]]></summary>
			<author>
				<name><![CDATA[tenrocdoc]]></name>
				<uri>http://www.savealabamapact.com/forum/user23.html</uri>
			</author>
			<updated>2009-05-14T02:11:33Z</updated>
			<id>http://www.savealabamapact.com/forum/topic70-kay-ivey-press-conference-today-new-posts.html</id>
		</entry>
		<entry>
			<title type="html"><![CDATA[FORD'S Proposed HB747 Bill]]></title>
			<link rel="alternate" href="http://www.savealabamapact.com/forum/topic38-fords-proposed-hb747-bill-new-posts.html"/>
			<summary type="html"><![CDATA[Let's discuss this bill only here- so we can keep a good trail of conversation.

Thoughts? 

Excited to get something through - but leary of backing something that may not be the best solution- and not sure on the repayment requirement.]]></summary>
			<author>
				<name><![CDATA[pedro3252]]></name>
				<email><![CDATA[pattilambert@charter.net]]></email>
				<uri>http://www.savealabamapact.com/forum/user9.html</uri>
			</author>
			<updated>2009-05-10T14:30:55Z</updated>
			<id>http://www.savealabamapact.com/forum/topic38-fords-proposed-hb747-bill-new-posts.html</id>
		</entry>
		<entry>
			<title type="html"><![CDATA[Proposed Legislation]]></title>
			<link rel="alternate" href="http://www.savealabamapact.com/forum/topic35-proposed-legislation-new-posts.html"/>
			<summary type="html"><![CDATA[Found out today that there is a new PACT related bill coming out of the Senate for Dixon. 

I had it posted on the Document section of the site.]]></summary>
			<author>
				<name><![CDATA[tenrocdoc]]></name>
				<email><![CDATA[pattilambert@charter.net]]></email>
				<uri>http://www.savealabamapact.com/forum/user9.html</uri>
			</author>
			<updated>2009-05-09T12:51:24Z</updated>
			<id>http://www.savealabamapact.com/forum/topic35-proposed-legislation-new-posts.html</id>
		</entry>
		<entry>
			<title type="html"><![CDATA[Rally]]></title>
			<link rel="alternate" href="http://www.savealabamapact.com/forum/topic43-rally-new-posts.html"/>
			<summary type="html"><![CDATA[RALLY! CONTACT YOUR LEGISLATORS NOW TO GET THEM COMMUNICATING WITH US! FACEBOOK GROUP IS RALLYING NOW! CALL, EMAIL, MAIL - ask THAT YOUR LEGISLATOR JOIN FORUM AND COMMUNICATE DIRECTLY!]]></summary>
			<author>
				<name><![CDATA[pattilambert]]></name>
				<email><![CDATA[pattilambert@charter.net]]></email>
				<uri>http://www.savealabamapact.com/forum/user9.html</uri>
			</author>
			<updated>2009-04-09T17:56:06Z</updated>
			<id>http://www.savealabamapact.com/forum/topic43-rally-new-posts.html</id>
		</entry>
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