• Registered: 06-26-2009
  • Posts: 3

Topic: pact

First, as the old saying goes, "Don't put all your eggs in one basket".
With PACT, this is exactly what happened. Too much money was invested in the stock market with no money in reserve to back up any major losses, no contingency plan.

To fix PACT, it has to be backed up by the Oil Trust Fund or Retirement Systems of Alabama. They would have the funds to back up PACT in case of major losses. I think PACT should be turned over to the Governor's office. The Governor would have more avenues and influence to push legislation to correct the problem.

www.terrydunn2010.com

  • Registered: 06-26-2009
  • Posts: 3

Re: pact

DON'T GAMBLE OR PLAY POLITICS WITH "PACT"

I promise to work with the Legislators to fix the financial problems facing the state's prepaid college tuition program, which the state treasurer oversees. Several legislators suggested ways to solve the money shortage, but I believe the gambling bill consumed and divided the attention of the legislators. The Senate passed SJR 150 unanimously and without objection in the House.SJR provides a study of the PACT program financials and investments by Retirement System of Alabama's Bronner to determine the best route for the program.  These recommendations will be discussed in the next year's session of the Legislature unless Governor Riley calls for a special session. I believe the 48,000 PACT members were left hanging to try to influence next year's election, by playing politics with our children's education. This is not a republican or democrat issue, it's a state issue, so let's work together to find a solution.


Posted on www.terrydunn2010.com