Just what is the RSA?

OK, I give up.- I've asked around, but can't find an answer to the following Just Ask question, which was sent in some time ago, so I thought I'd share the question with you:

Q: "I have been trying to find out the name of a drive-in theater that I remember visiting as a young child in the late 1950s. The drive-in was on the southwest corner of the intersection of County Line Road and Second Street, north of Leighton, also known as Underwood Crossroad."

The reader who asked this question added that the theater was destroyed by a tornado.

If anyone has information about it, I'd appreciate a call or e-mail. Thanks.

As for the topic of today's question, I can sum it up in three letters: RSA.

Someone called a while back and asked for information about the Retirement Systems of Alabama.

He said RSA has been in the news a lot during recent years because of the Robert Trent Jones Golf Trail courses and other projects in the Shoals. He wanted information about them, such as whether it's a public or private entity, how much is in the investment system, how it started and what buildings it owns.

So, I talked with RSA Deputy Director Marc Reynolds, who helped me out with this one.

He said the teachers' retirement system was established by a legislative act in 1939. An act started the state employees' system in 1945.

The current chief executive officer, David Bronner, joined RSA in 1973.

Reynolds said the question of whether RSA is a public entity doesn't have a simple answer.

"We're basically a public entity, but the things we do, like investment of funds and holding of members' money, can't be done by the state, so we have the powers of a public corporation, so we can invest and reinvest, and do those types of things," Reynolds said. "So we're kind of a hybrid."

The organization has separate boards for the teachers' system and the state employees' system, Reynolds said.

The teachers' investment system holds $1.846 billion. The employees' system holds $841 million, he said.

Reynolds said RSA owns six buildings in Montgomery. Those include the RSA Tower downtown and the RSA Plaza. The plaza is next door to the original RSA building that still is used as headquarters.

RSA also is building an office tower in Mobile. Reynolds said the tower will have more than 30 stories. It is expected to be completed within 12 months.

In addition, RSA owns a building at 55 Water St. in New York City, which has 3 million square feet of office space, Reynolds said.

As Reynolds puts it, "We won't have any trouble finding office space in the future."

Staff Writer Bernie Delinski writes Just Ask, which runs Tuesdays in the TimesDaily. If you've got a question, e-mail it to justask@timesdaily.com, fax it to 740-4717 or send it to Just Ask, c/o TimesDaily, P.O. Box 797, Florence, AL 35631. Include your name and contact information.