Montgomery, AL – The Alabama Legislature has passed a resolution calling on the state pension fund to study the financial problems in the state's prepaid college tuition plan and recommend action.
The Senate approved the resolution Thursday and the House took it up Friday.
Lt. Gov. Jim Folsom Jr. says legislators want to see a study by the Retirement Systems of Alabama before deciding what to do about the tuition plan. He says the plan's assets are sufficient to keep paying tuition for several years.
The chairman of the plan's board, State Treasurer Kay Ivey, says the resolution is a positive step, but she says it's not legally binding.
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