February 19, 2020
Wednesday AM

Open letter to:  Dan Ortiz, Bert Steadman, Alaska State Senate President -Giessel, Majority Leader -Hoffman, Minority Leader -Begich, House Speaker -Edgmon,  House Majority -Thompson, House Minority -Pruitt and Governor Mike Dunleavy.

The concept is simple.  At the time of applying for a Permanent Fund Distribution, each person will have the alternative choice to stipulate that ALL or a PORTION of their upcoming Perm-Fund-Check will be RE-INVESTED into the Permanent Fund and earmarked as an investment fund for that person under a provision called: APFRIP.

These Reinvestment Funds would grow at the same rate as the Permanent Fund.   Reinvestment Funds could be withdrawn at any quarterly interval with a 30 days notice and a payment of a disbursement fee to cover administrative costs.

Rationale:  The Alaska Perm Fund is one of the best managed funds in the world.  It was set up to protect the citizen’s of Alaska financial futures so the idea of APFRIP is a logical extension of the Fund’s original purpose.

Hypothetical:  Let’s assume that an 18 year old Alaskan citizen opts to RE-Invest her Perm Fund check each year of her 40 year working life and that the perm check averages $2,000 per year, compounded annually at 8%, then her nest egg at age 58 would be $561,562 before taxes and adjustment for inflation.  She could then choose a lump sum payment, monthly disbursements or annual additions to her perm fund check.  Seems like this would & should receive across the isle support and pass easily.

Kindly Submitted by,

Robert B. Holston Jr. 
“A perm fund recipient since 1982.”
Ketchikan, Alaska

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Editor's Note:

The text of this letter was NOT edited by the SitNews Editor.

Received February 16, 2020 - Published February 19, 2020

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