Just What is the Permanent Fund, and Who’s in Charge?

View Cliff’s introductory slides here.

All Alaskans know about the Permanent Fund Dividend (the PFD), but how well do we understand the Alaska Permanent Fund (APF) itself? How is it set up and managed? Are there ways to improve its function, oversight, and performance? What should voters be thinking about to ensure its long-term success?

The APF is governed by a board of trustees. This session looked at how the board’s structure, authority, and independence have evolved over time and explore possible changes to make the APF more successful and truly permanent. The program will began with an overview by Cliff Groh, providing background on the APF and its Board of Trustees including the Fund’s structure, governance, and how the Fund and board differ today compared with earlier decades.

Panelists then discussed key issues regarding the Board of Trustees and possible changes to it, including:

• The appropriate level of independence of the Board of Trustees
• The current trustee appointment and removal process
• Potential changes to the number of trustees; the balance of commissioners vs. public members
• Trustee terms, qualifications, fiduciary responsibilities
• Whether changes should be pursued through legislation or constitutional amendment