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Tue December 17, 2013
Gov. Bentley Says He's Not Behind Pension Change
Gov. Robert Bentley says his disagreement with state pension fund Chief David Bronner over expanding the state Medicaid program had nothing to do with new controls being placed on Bronner's investment authority.
Bentley says one of his appointees to a Retirement Systems board came up with a resolution requiring the board's investment committee to approve Bronner's investments. Bentley said Tuesday that he didn't know about the resolution until after it happened, but he supports the oversight.
Bronner has criticized the governor for not expanding Medicaid under the federal health care law. He says he thinks their disagreement was among the factors leading to the resolution. But Bronner says the resolution is impractical because investing on Wall Street requires quick decisions that can't be run by a committee.