• Registered: 03-28-2009
  • Posts: 257

Topic: Status Request of State Treasurer

The following is an email I sent to Kay Ivey today:

alatreas@treasury.alabama.gov

Attention Kay Ivey, State Treasurer


As a holder of five PACTS, my husband and I would like to receive a status report of where we stand on the funding issue.  What is being done?  What has been accomplished?  Anything?  We 49,000 out here only receive fragmented information and are essentially left dangling.  Is anything going to happen in this legislative session?  Tempers and patience are growing short.  Some people need answers quickly.  Lawsuits have been filed.  The crisis is not going away.

Please respond.

Donna H. Peacher

Last edited by dhpeacher (04-14-2009 1:38:42 pm)

  • Registered: 04-14-2009
  • Posts: 1

Re: Status Request of State Treasurer

Please Ms. Ivy, I second this request.  My PACT contract has been paid in full for over 10 years and clearly states that I am “guaranteed” the tuition and fees that I purchased in advance.   I understand that the stock market has not performed well over the past several years.  I too have suffered investment losses.  Unlike the state, I am not able to simply notify my contract holders that I will not be fulfilling my contractual obligation.  I have had no choice but to find other means  to meet my obligations.

This is my only source of funding for my child’s college education.  Please share the details of what is happening now and planned for in the future.  Surely you hear and understand the concerns of over 49,000 people that purchased these plans in good faith.
Sincerely,

Jason Williamson
Birmingham, Al

  • Registered: 03-28-2009
  • Posts: 257

Re: Status Request of State Treasurer

The following is a response from the state treasurer's office asst to my earlier message of this morning.  Also, I have responded to their latest message as below:

To: alatreas@treasury.alabama.gov

Of course, this is what I expected - more fragmented and vague information.  We have received no actual status of where legislative activities stand.  What bills are being considered?  We hear there may be more than one.  What are they and what do they ask for?  There seems to be a lot of discussion, but is anything actually happening with the PACT problem?.  The latest posting of 4/10 is vague....nothing concrete that I can see.  If this is the most up-to-date information you have, then please go out and get some more.  Of course, it is so reassuring to know that the PACT funds are not frozen YET.
Isn't this legislative session fast coming to a close? 

Oh, and by the way, what about the fall enrollments?  Are they or are they not going to be honored?  We would appreciate this information.

Donna H. Peacher
231 Bell Road
Huntsville, AL 35811
256-852-7817
email:  dhpeacher@mchsi.com


----- Original Message -----
From: Office of the Treasurer
To: Donna Peacher
Sent: Tuesday, April 14, 2009 1:57 PM
Subject: RE: PACT Status Request


Thank you for contacting the Office of Treasurer Kay Ivey. At this time we have legislation being introduced in the Legislature regarding the PACT Program.  In the meantime, if you will go to the www.800alapact.com website and read the information posted every Friday about what is going on with PACT, it is the most up to date information that we have.  I just checked it and the last post was Friday 4/10/09.  I hope this information will be helpful to you. 

Mary Frank Crew
Executive Assistant
Office of Treasurer Kay Ivey
600 Dexter Avenue, S-106
Montgomery, AL 36104
334-242-7500
334-242-7592 (fax)
maryfrank.crew@treasury.alabama.gov

Last edited by dhpeacher (04-14-2009 3:31:34 pm)