BIRMINGHAM – Jeremy Sherer, Democratic candidate for Alabama State Treasurer, called for Governor Bob Riley to publicly release the Retirement Systems of Alabama’s (RSA) study on the financial viability of Alabama’s Prepaid Affordable College Tuition Program (PACT).

“Governor Riley owes PACT participants and all Alabamians an expanded explanation for his decision to delay the public release of the Retirement Systems of Alabama’s study on PACT”, said Sherer.

“Continuing, Sherer stated, “The present legislative special session does not directly or indirectly relate to PACT. The delay in the releasing RSA’s PACT analysis further compromises the trust of PACT participants, and perpetuates the uncertainty regarding their children’s college future.”

“The forty-eight thousand Alabama families that have had their children’s college savings jeopardized, due to the Treasury’s negligent management of PACT, deserve a swift and firm commitment by the State that their children’s college future is secure.”

“Furthermore, before any necessary solution can be taken by the legislature or PACT board towards remedying the failings of PACT, we must fully understand PACT’s present status and the breadth of challenges in its future. The release of RSA’s analysis of PACT is necessary towards quickly and successfully adapting PACT’s longterm strategy.”

“PACT participants should be treated as partners in any solution of PACT. This partnership should include the state’s sharing of information regarding PACT’s viability.”

Please contact Jeremy Faulkner at (205) 446-1342 with any questions.

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