Permanent Fund board tables proposal

Posted: Thursday, March 27, 2003

JUNEAU (AP) -- Alaska Permanent Fund Corporation trustees delayed action on a plan to make the fund work more like an endowment during their meeting Wednesday in Anchorage.

Fund corporation trustees were divided on what language to include in a policy resolution to change the payout of the fund to a percent of its market value.

The board has been seeking a constitutional amendment that would base the fund payout on 5 percent of its market value rather than on earnings from the fund.

A previous board approved a resolution in 2000 but could not win legislative approval to put the measure on the ballot.

Trustees could not decide Wednesday whether to include in their draft policy resolution language that preserves the constitutional protections on the principal of the $22.8 billion fund. The board plans to meet again April 7 to complete work on the resolution.

If the Legislature approves a constitutional amendment, it would be on the ballot in the 2004 general election.

Subscribe to Peninsula Clarion

Trending this week:


© 2018. All Rights Reserved. | Contact Us