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New Legacy Fund formula cut distribution to $687 million; lawmakers press for earnings transparency
Summary
The Retirement Investment Office reported that the statutory change to calculate Legacy Fund distributions — 8% of a five‑year average — produced a $687 million distribution, down from roughly $1.075 billion under the prior realized‑earnings method.
The Retirement Investment Office said the formula used for the most recent Legacy Fund distribution produced roughly $687 million, a significant reduction from the $1.075 billion figure that would have been distributed under the old realized‑earnings method.
"The statute regarding the distribution is Century Code section 54‑27‑32," Adam Ottison, chief financial and operations officer at the Retirement Investment Office, told the Government Finance Committee, and he explained the office calculated the distribution as 8% of the five‑year average of the fund’s ending balances (2020–2024).
Ottison said…
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