After Alaska legislators threaten subpoenas, Permanent Fund trustees respond with an offer

JUNEAU — Five of the six board members in charge of the $80 billion Alaska Permanent Fund Corp. said in a letter this week that they may voluntarily answer questions from legislators investigating the firing of the corporation’s former executive director, Angela Rodell.

Legislators are attempting to determine whether Rodell was fired for political reasons by the trustees of Alaska’s $80 billion investment fund, and trustees previously threatened to challenge the investigation with a lawsuit.

“Although the board stands by those legal positions ... the board also believes that at this time the best interest of Alaskans would be served by the trustees appearing in a public hearing before your committee and explaining what the board did and why,” Monday’s letter said.

The joint House-Senate Legislative Budget and Audit Committee, which approved a special investigation into Rodell’s firing, has already approved subpoenas that would require board members to testify unless they agree to voluntary interviews by a special investigator.

The Legislature, though empowered to compel testimony, has used its subpoena powers only a few times since the 1980s.

This week’s letter from the trustees, signed by a state attorney representing them, represents a counteroffer: The trustees say they would be willing to voluntarily speak during a public committee meeting, and they request that the committee stop investigating a Department of Revenue official and corporation employees who also were subpoena targets.

In order to discuss the closed-door meeting that preceded Rodell’s firing, they ask that the committee obtain Rodell’s permission first.

“If a waiver is achieved, the trustees will also be prepared to testify and answer questions regarding the discussions held in the executive session,” the letter said.

Rodell’s attorney, Jon Choate, said she has agreed to the waiver.

Notably, the letter excludes corporation board chairman Craig Richards, who is being represented by a private attorney.

Staff for Sen. Natasha von Imhof, R-Anchorage, said she was not prepared Tuesday to discuss the request and declined comment. Special investigator Howard Trickey, who has been hired to investigate Rodell’s firing, said no subpoenas have yet been issued.

Rodell, who left the state-owned Permanent Fund Corp. after its most successful year on record, said in December that her removal was the result of “political retribution” by appointees of Gov. Mike Dunleavy. Richards has disputed that account and referenced years of critical performance reviews from trustees, some predating Dunleavy’s term in office.