Permanent Fund Corp. to study office move

Posted: Friday, February 29, 2008

The Alaska Permanent Fund Corp.'s Board of Trustees wants to know if the managers of $38 billion in state money should be located outside of Juneau.

Board Vice-chairman Bill Moran of Ketchikan said the question of the corporation's location will continue to come up and needs to be addressed.

The trustees asked Executive Director Mike Burns to report back at the board's May meeting, to be held in Anchorage, with a proposal for an outside study of location, as well as compensation for trustees.

A year ago, former board Chairman Carl Brady urged the corporation to move to Anchorage, but no action was taken. He did not speak to Moran's suggestion Thursday.

Moran said he wanted an outside analysis "so we aren't back in the emotional and political side of things."

Using an outsider to decide where the best location was would keep the decision away from staff bias, he said.

Burns said he'd bring a proposal to the board in May, along with estimated costs of a study.

Moran said after the meeting that he didn't know whether Juneau was the right place for the fund's headquarters.

"Maybe it is, maybe it isn't," he said.

Moran is president of First Bancorp of Ketchikan and has served as a trustee since his appointment by former Gov. Frank Murkowski in November 2006.

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