9:37am

Tue August 18, 2009
Top Stories

Study Finds State Should Fund PACT Program

MONTGOMERY, Ala. –
(AP) - An independent study of Alabama's prepaid college tuition program shows that the most viable option for the troubled program is for the state to finance it over 18 years.
Buck Consultants didn't recommend a specific plan or source of
the funding. But it would presumably require the Legislature to
appropriate more than $52 million in fiscal year 2011 and possibly
more later.
All this would come as schools across the state struggle with
mandated budget cuts.
Gov. Bob Riley and members of the Legislature received the
actuarial report for the Retirement Systems of Alabama on Friday.
Riley spokesman Jeff Emerson said Monday the governor is still
studying the report.
The consultants offered four options to sustain the program, but
all are expensive.
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Information from: The Huntsville Times,
http://www.al.com/huntsville

(Copyright 2009 by The Associated Press. All Rights Reserved.)