Kay Ivey and the Alabama Prepaid Affordable College Tuition Program

[exboyfil]

http://www.wsfa.com/Global/story.asp?S=9801239


Kay Ivey forms ExploratoryCommittee

Posted: Feb 6, 2009 10:27 AM CST

Updated: Feb 6, 2009 10:27 AM CST

"Montgomery, AL - Kay Ivey announced that she has formed an Exploratory Committee to evaluate and explore her candidacy for Governor."


The last thing I can find on the health of Alabama's PACT program comes from a short message from Secretary Ivey in October.

"These are unprecedented times with unprecedented volatility in the financial markets. I want to confirm your confidence that the PACT Board of Directors continues to responsibly manage the investments you have made in a child’s future through the PACT Program. It is well-known that Wall Street has had a bad year in 2008. It was just over a year ago that I was at the NASDAQ stock market when the Dow Jones Industrial Average topped 14,000 for the first time. More recently, the Dow has hovered between 10,500 and 12,000."

Well now that the DOW is down to 7800, I got to wonder what is going to happen with this program. It had insanely high investment projections even before the crash (try 8%+ yearly returns) on a 75 equity/ 25 bond/cash basis. The next reports will not be released until May of this year according to their office. If these reports follow the same timing as previous reports, then they would have been prepared in September, 2008 - they obviously will need to update them from that time period.

A really good question for Secretary Ivey on the campaign trail.