A new analysis paper offers a menu of possible solutions, with a two-part constitutional amendment as the most durable repair.
By James Brooks, Alaska BeaconThe trustees of the Alaska Permanent Fund Corp. are seen during a quarterly meeting on Friday, Feb. 16, 2024. about an impending state financial crisis.
“I think this is a clear and present danger, and we need to get it out there,” said Craig Richards, a member of the corporation’s board of trustees. In addition, legislators have repeatedly transferred more money from the earnings reserve to the principal than normally required. On Friday, the board of the Alaska Permanent Fund Corp. voted to release a detailed analysis paper — one of only 10 since the corporation’s inception in 1980 — that presents a menu of potential solutions to the Alaska Legislature.
Under his analysis, without a constitutional amendment, there’s a 5% chance that the fund isn’t able to transfer money to the state treasury within three years.
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