This is the first step in what will end up being a multi-year, disruptive, unnecessary and expensive office move.
The Michael J. Burns building, which contains the offices of the Alaska Permanent Fund Corp. in Juneau, is seen on Thursday, March 17, 2022.
The plan to open the office in Anchorage is analyzed in a May 10 memo to Ethan Schutt, Trustee Chair, from Mike Barnhill, the Permanent Fund’s Chief Operations Officer. It lays out options and costs for an office in downtown or midtown Anchorage.
The APFC office should be located in Juneau, close to this action. In addition, the Legislature would have to approve the funds for a move. Before making a rash decision, the Permanent Fund Trustees should consult with the Legislative leadership as recommended by the APFC internal memo. In the long run, trust between the Permanent Fund and the Legislature must continue to exist for the good of all Alaskans.
This makes no sense. An APFC internal study shows pretty clearly that there is no APFC staff turnover problem — at least, not in comparison with state executive offices as a whole. That internal memo references a study of staff turnover at APFC and compares it with turnover in state executive branch offices for the past two decades. APFC turnover for the past 20 years — 12.6% and 14.3% — is almost identical to state executive turnover of 13.94% .
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