Alabama State Treasury Department

The board received a presentation on oil and gas royalties and reviewed quarterly financial reports, including balance sheets and revenue statements. Detailed quarterly performance reports for both the ATF and CMT funds were analyzed, along with October flash reports. Key actions included reviewing the watch list for investment managers, leading to decisions on retaining or adding specific firms, and evaluating the UBS Loyalty Incentive Program, which resulted in the board rescinding a full redemption request to optimize portfolio fee advantages.

The Board discussed the quarterly program report, including updates on budget, student benefit payouts, and system administration. The meeting included presentations on quarterly investment performance and an actuarial report regarding assets, liabilities, and funding ratios. The Board approved a 7% adjustment rate for PACT benefit payments for the upcoming Fall term and selected a firm to provide financial auditing services. Additionally, the Board denied two separate petitions from account owners regarding beneficiary changes and account extensions, and received a state legislative update regarding 529 accounts.

This document outlines a marketing plan for 2026, focusing on strategic campaigns targeting parents and grandparents to promote CollegeCounts 529 accounts. Key initiatives include a 'Parenting is a lot' campaign for parents and a 'Fund their dreams' campaign for grandparents, encouraging the opening of CollegeCounts 529 accounts. The plan also incorporates 'Celebrating 25 Years!' as a social assets theme and includes a budget for the year.

The board meeting included a review of quarterly reports, which covered program activities, plan assets, revenues, disbursements, and tuition payments. The investment report provided an overview of market performance, asset values, and portfolio returns. The actuarial report detailed projected cash flows, assets, and liabilities. Additionally, the meeting addressed the annual audit report, the State Examiner's report for fiscal years 2019-2023, and a summary of the annual report for the Savings Division. Members were also reminded of upcoming deadlines for filing Statement of Economic Interests forms.

The meeting included a program report detailing activities, cancellations, plan assets, and a review of the budget versus expenditures for fiscal year 2017, alongside the budget for fiscal year 2018. The program reported benefit payouts totaling $12,571,355 to 3,818 students for the period of July 1 through September 30. The quarterly investment report indicated the portfolio earned 0.43% for the quarter, outperforming the benchmark. The annual actuarial report confirmed a funded ratio of 115.5% as of September 30, 2017. The Board unanimously approved the proposed actuarial assumptions for FY 18. Furthermore, following an RFP process, the Board selected Libera, Inc. as the new records administrator, replacing HDI Solutions whose contract expires on July 31, 2018. A petition from an account owner requesting an extension to the contract term due to medical reasons was denied.