• Registered: 03-28-2009
  • Posts: 15

Topic: Todays decision was very ill advised if the goal is to save PACT

Todays decision to unilaterally change the terms and conditions of the Contracts was very ill advised if the goal is to save PACT.
   If I were a grandparent with multiple contracts and the oldest of them get's a bill from let's say Auburn and his/her parents tell me and there are some grandchildren with contracts that are very much younger, i start to think, "Just how big is the [difference] going to be as the younger children start school?" then i start to seriously think about withdrawing the money from the plan.
    This I think is a sign that everybody from Kay Ivey on down do not expect the state legislature to find a solution that funds the contracts that the state made. 
    I had an interview with a reporter from the Anniston Star just a few minutes ago and i told him about what we have been told so far and that my opinion was as i posted above.
   I know that we want to save the PACT, but after todays announcement I have contacted a Lawyer who himself has PACT contracts.  my son is at Auburn now and i think this will equal "HAVING STANDING" as far as a lawsuit is concerned.

  • Registered: 03-28-2009
  • Posts: 26

Re: Todays decision was very ill advised if the goal is to save PACT

I am profoundly disappointed by the actions taken by the PACT Board today without representation of our Save Alabama PACT group.  I encourage all owners to stay steady, don't panic, and don't jump ship.  Stay the course and continue to support our efforts to secure the entire provisions of our contract.  Plan to meet on Jan. 12, 2010 at 9 am on the Capitol steps in Montgomery to show our solidarity to the legislators.