CULLMAN – Jeremy Sherer, Democratic candidate for Alabama State Treasurer, attended the inaugural meeting of the Cullman County Chapter of Save Alabama PACT. Approximately 65 PACT owners, students and concerned citizens attended the Thursday night meeting of the Cullman Chapter that was held at the County Courthouse.

Sherer told PACT attendees, “I will seek to reduce the administrative costs of PACT and increase the return on PACT investments. And, I will actively manage PACT with the due diligence and forthrightness you expected when you first entrusted the Treasury with your children’s and grandchildren’s college savings.”

Sherer advocated utilizing some of the approximate $400 million that resides in the Unclaimed Property Fund, which is managed by the Treasurer, as bridge funds to stabilize PACT investments until a long term financial solution can be enacted by the Legislature.

“Alabama’s budgets are in a state of proration, resources are limited, but your cause is just. The solution of PACT must not be subverted by partisan, special interest politics. In today’s environment of proration, I believe tapping funds from the Unclaimed Property Fund is the most politically efficient and financially sound means for saving PACT”.

Sherer also suggested that Alabama explore new revenue options to sure up PACT.

“Due to the loss of federal stimulus funding in the upcoming year, Alabama’s finances will get worse before they get better.”

“I believe PACT families and all Alabamians need to seriously consider passing legislation similar to the recently proposed Sweet Home Alabama bill or an education lottery to realize a more expedient solution to our state’s multiple funding crises.”

Sherer continued, “PACT contract holders play an integral role in holding elected leaders accountable for solving PACT. I know none of you thought you would be in this room and predicament when you first signed on with PACT, but your grass roots activism is why each of us is here tonight”.

“PACT contract holders are in the contractual and moral right on this issue. And, through your continued activism you will be the unlikely heroes of solving PACT – not any elected official. Your activism on this issue will ensure that right will make might, and PACT will be saved.”

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

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