Conference Delegates:
Please take a few minutes to review this
comparison
matrix to see how proposed legislation will affect the Permanent
Fund. You will see that legislative appropriation of fund principal
is possible under certain market conditions. The Permanent Fund
board are assuming an 8% return over time with the POMV plan.
However on closer scrutiny you will find that POMV fails to
guarantee inflation proofing and preservation of principal should
earnings fail to reach 8% a year or if inflation exceeds 3% a
year. Either or a combination of both factors will allow erosion of
fund principal.
Preservation of assets should be our number one priority. Failure
to do so is gambling with Alaska's future when the Permanent Fund
will really be needed. Finally, any proposal presented to
the Governor should stipulate the disposition of fund earnings.
Where will the 5 POMV ultimately go? The public will want to know
the answer to that question.
Thank you for taking time to review the comparison matrix, and for
doing what is right for Alaska's future.
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