Should the state bail out the PACT program?

As parents of nine year old twins, my husband and I met with a financial advisor in 1998 to determine the best way to safely invest our money for our future and future children. The first question I had was what about Alabama's PACT program, is it gauranteed by the State of Alabama? The financial advisor quickly informed me that the PACT PLAN WAS NOT A GAURANTEED INVESTMENT. After he reviewed the plans of other states who had attempted similiar programs and the failure of each of them we then invested differently. I am adamantly opposed to the state bailing out an investment plan that is truly designed no differently than any other private investment. As a state employee I am concerned how RSA can support this expense when RSA is still dealing with losses attributed to the downturn in the market. The State of Alabama is currently under a hiring freeze and all raises are frozen due to the current economic crisis. Again I do not understand how our legislators can begin to vote to pass this bill when we can not adaquately fund our public schools and other state agencies. I am curious as to how many of our legislators have personally invested in the PACT program? For the legislators who have and vote in favor of this bailout, I would like to remind them of the SLIPPERY SLOPE.... I feel sorry for those who invested in the PACT with the false impression that this plan was gauranteed by the State of Alabama. However like most other investments their is always the risk of low returns or a complete failure. Kay Ivy did no favors for the State of Alabama when she developed this proram and endorced it using the State of Alabama's name and not her personal name. Due to the PACT program being falsely promoted Employees of the State of Alabama are being faced with paying for this bailout.