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Thu July 30, 2009
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State Senator Calls for Special Session on PACT Program

Montgomery, Alabama – A state lawmaker out of Gadsden wants the state's ailing Prepaid Affordable College Tuition program to the subject of a special session of the Alabama Legislature.

State Representative Craig Ford says he wants the governor to call a special session during the week that the governor receives a report from the Retirement Systems of Alabama on the program.

Lawmakers asked RSA to review the plan after it was revealed the PACT program did not have enough assets to cover future obligations. That report will be released to the PACT Board August 19th.

Governor Bob Riley, meanwhile, has only discussed holding a special session next month to deal with Jefferson County's financial crisis.