Angela Rodell, CEO and executive director of the Alaska Permanent Fund Corp., gives an overview of the fund to the House Finance Committee at the Capitol on Monday, Jan. 22, 2018. (Michael Penn | Juneau Empire)

Angela Rodell, CEO and executive director of the Alaska Permanent Fund Corp., gives an overview of the fund to the House Finance Committee at the Capitol on Monday, Jan. 22, 2018. (Michael Penn | Juneau Empire)

Lawmakers could affect value of the Permanent Fund

As lawmakers consider using proceeds from the Alaska Permanent Fund to patch Alaska’s $2.5 billion budget deficit, they are pushing back against a stress test concluding that their strategy has a 50/50 chance of failure.

“This seems unrealistically or unnecessarily pessimistic,” said Sen. Peter Micciche, R-Soldotna, after the results of the test were presented.

In a pair of hearings Monday and Tuesday in the Capitol, Alaska Permanent Fund Corp. CEO Angela Rodell stood by the results of the stress test and told lawmakers that the odds of failure could be reduced if the fund changes its investment strategy — a strategy that has driven the fund to record-high levels. As of Jan. 1, the fund was worth $64 billion.

“This analysis is simply designed to give you information about what could happen if we have a really wretched set of market circumstances,” sending the fund’s value downward, Rodell explained.

For the rest of this story, visit the Juneau Empire.

More in News

Kenai City Manager Paul Ostrander speaks at a ribbon-cutting ceremony at Kenai Municipal Airport on Friday, Aug. 6, 2021 in Kenai, Alaska. A kiosk that will offer educational programming and interpretive products about the Kenai National Wildlife Refuge is coming to the airport. (Ashlyn O’Hara/Peninsua Clarion)
Wildlife refuge kiosk coming to airport

Kenai National Wildlife Refuge stickers, T-shirts, magnets, travel stamps and enamel pins will be available.

This illustration provided by the Centers for Disease Control and Prevention in January 2020 shows the 2019 Novel Coronavirus. (CDC)
5 more COVID deaths reported

The total nationwide fatalities surpass population of Alaska.

Velda Geller fills goodie bags at the Kenai Senior Center on Friday, Oct. 22, 2021 for next weekend’s drive-through trick-or-treat event. (Camille Botello/Peninsula Clarion)
‘This has been a lifesaver’

Seniors seek human connection as pandemic continues.

Kenai City Hall on Feb. 20, 2020, in Kenai, Alaska. (Photo by Victoria Petersen/Peninsula Clarion)
‘A very slippery slope that we need to be careful of’

Approval of library grant postponed after Kenai council requests to preview book purchases

This undated photo released by the Alaska State Department of Public Safety shows Robin Pelkey just before her 18th birthday. The remains of a woman known for 37 years only as Horseshoe Harriet, one of 17 victims of a notorious Alaska serial killer, have been identified through DNA profiling as Robin Pelkey, authorities said Friday, Oct. 22, 2021. (Alaska State Department of Public Safety via AP)
DNA match IDs serial killer’s victim after 37 years

Robin Pelkey was 19 and living on the streets of Anchorage when she was killed by Robert Hansen in the early 1980s, investigators said.

A moose is photographed in Kalifornsky, Alaska, in July 2020. (Peninsula Clarion file)
Illegal moose harvest down from past 5 years

The large majority of moose this year were harvested from North and South Kasilof River areas.

Renee Behymer and Katelyn Behymer (right) of Anchorage win this week’s vaccine lottery college scholarship sweepstakes. (Photo provided)
Dillingham and Anchorage residents win 6th vaccine lottery

“Get it done,” one winner said. “Protect us all, protect our elders and our grandchildren.”

Most Read