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Politics : Mainstream Politics and Economics
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To: TopCat who wrote (14046)3/29/2012 10:56:21 PM
From: koan  Read Replies (1) of 85487
 
<<But to your question, the permanent fund was created as a tool to keep public support for the fund. So no one could raid it like they did in Alberta Canada which lost most of their soverign wealth fund by not being careful and putting in protections from the criminal elements who go theirs."

Maybe I don't understand, Chuck. How are the realized earnings of the fund distributed each year?>>

First they inflation proof it using the CPI. Then they figure the distribution to the people based on a 5 year average. What is left over is the allowable funds for teh budget for that year. If it is more than they need for running the state government for the year it, goes into the undistributed reserve account or consitutional budget reserve?

Then often they will take the surplus and will pass legislation to put in into the principle. At that point no one can touch it.

Our Permanent fund is structured brillantly. I had nothing to do with it, but I admire its construction. Very smart people put that fund together.
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