Members vote to change per capita distributions - The Lewiston Tribune: Northwest

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Members vote to change per capita distributions

Parents now have option of investing payout for their children

Posted: Sunday, May 5, 2013 12:00 am

Members of the Nez Perce Tribe's General Council voted to change policy Friday on per capita distributions from a trust settlement after pushing for the option to receive the money immediately rather than investing it.

The settlement is a $34.7 million sum paid out for mismanagement of funds and accounts the U.S. government held in trust for tribes. Adult tribal members started receiving $8,600 from the settlement last May, and the Nez Perce Tribal Executive Committee had planned to invest the same amount for tribal members' minor children in the stock market to let it appreciate until the child turns 18. Joel Moffett, the tribe's treasurer, presented the plan with representatives from Sterling Savings bank at General Council on Thursday, outlining how much more money could be available by the time the child is an adult.

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