The Executive Director of the Arkansas Public Employees Retirement System, Gail Stone, announced that she will be retiring at the end of the year. The resignation will be effective December 31. Stone has been the Executive Director since July 2001. She was worked for the retirement system since the 1990s.
The Public Employees Retirement System is the second largest in the state. The Arkansas Teacher Retirement system is the first largest. Coincidentally, the director of the Teacher Retirement system retired this year as well.
In the interim, Deputy Director Jay Wills was voted by trustees to act as executive director until a new hire is made.
When asked why she decided to retire, Stone stated, “Because it appeared to be the only avenue of possibility for myself.” However, Stone also stated in an interview that she was not threatened with termination.
The Public Employees Retirement System manages $8 billion in investments for more than 75,000 working and retired members.