• Registered: 08-10-2009
  • Posts: 71

Topic: Dear Ms. Ivey, I've had enough.

Kay,

I read your comments this morning in the Birmingham News story concerning tapping the Trust Fund to pay for the PACT guarantees. Have you already forgotten about us in your quest to be the next governor?!?

Some lawmakers are pushing for plans that could take money from a multi-billion dollar state savings account to pay for a $1 billion road-building program and a $300 million rescue of the state's prepaid college tuition plan. ... But other lawmakers, joined by state Treasurer Kay Ivey, warned against a rush to tap into the Alabama Trust Fund's assets.

Rep. Craig Ford, D-Gadsden, said he will sponsor a plan next year that would transfer $300 million over 11 years from the ATF to the state's Prepaid Affordable College Tuition program. ... But Ivey, who as state treasurer sits on the ATF board, frowned on new efforts to take money from the ATF's assets.

Over the last few months I've watched your actions (or lack thereof) and listened to you plea for help from the legislature, but now help arrives and you toss us under the bus? It's one thing not to attempt to take any positive action on our behalf ("I have no power to supplement the PACT trust I'm just the Treasurer yada yada yada") but to speak out against someone who is actually trying to keep you from getting your scrambling behind sued while you run away from this mess is unfathomable and unconscionable.

Sure, the Trust Fund serves a purpose. It supports the General Fund which supports the general needs of our state as they become identified and worthy. Guess what? We've already identified a huge need, and a contractual promise, made by our state. How about supporting your past promises before thinking about becoming our Guvnah and making new ones?

You seem to know what can't be done and quick to judge ideas of others. How about figuring out what can be done, and giving us your own idea? Or does the PACT Treasurer not have any ideas to share?

Regards,
KBinHoover

Last edited by KBinHoover (09-01-2009 2:05:36 pm)

  • Registered: 08-10-2009
  • Posts: 71

Re: Dear Ms. Ivey, I've had enough.

Here are some of Ms. Ivey's past comments. I've linked each of these. They are her exact words. If she didn't want the legislature to take the money from the Trust Fund (which supports the General Fund) where exactly did she think it would come from? What's speaking louder now, her actions or her words?

2-27-09

Please know that your PACT Board is deeply committed to serving the needs of all PACT beneficiaries and in protecting your interest in the PACT Program.

5-13-09

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.

5-15-09

As I stated earlier this week, the Legislature is capable of achieving what it wishes to achieve, when it has the will to do so. Again, I offer congratulations and my dedicated commitment to assist in every way possible with future PACT Legislation

5-16-09

State Treasurer Kay Ivey said she was disappointed legislators didn't fund the PACT program and hoped they would after receiving the financial report called for in Senate Resolution 150. Asked what would happen if lawmakers in coming months didn't pass a funding bill for PACT, Ivey replied, "We'll have to address it down the road."

5-20-09

We are committed to work with the Legislature and the Governor to help craft future legislation which is consistent with the results of the RSA study and is reflective of the comments we have received from members of the Legislature and from the families of the 48,000 contract holders.

7-28-09

"I have definitely been unduly blamed for things, but people didn't know what else to do. And I understand that emotion, I understand that fear," Ivey said.  Ivey said the PACT board wants to save the program just as much as contract holders do, but said that power ultimately lies with state lawmakers. "The legislature is the only body that can appropriate funds," Ivey said.

8-20-09

State Treasurer Kay Ivey cautioned advocates not to allow anyone to politicize their issue. “The issue is about students and a job well done and parents who worked to save for them. It ought not to be a political issue. Don’t let it get to be,” Ivey said.