October 4, 2018 - Board Chairman Update: Smooth Transition Underway at ATRS

Based upon the level of calls and messages from ATRS members, I felt members should be reassured that the retirement of Mr. Hopkins has been part of succession planning at ATRS for over 2 years. The ATRS Board is using the same process used a decade ago when Mr. Hopkins was selected to be the Executive Director of ATRS. The focus of the ATRS Board will be to choose a strong successor to continue the programs and initiatives the ATRS Board has developed over the last 10 years and the decades before. The ATRS Board is confident that strong candidates will apply to become the new Executive Director. The ATRS Board will carefully screen the candidates and undertake extensive interviews with the top candidates. Be assured that the strength and sustainability of ATRS will be maintained. The mission of ATRS to recruit, retain and reward career educators will always be the cornerstone of the ATRS Board's mission.

I have attached a longer message concerning the ATRS tradition of keeping members informed. For members who have questions or concerns, the attached Board Chair update should be very informative and comforting.

Respectfully,

Jeff Stubblefield, Chairman

ATRS Board of Trustees

List of Attachments:

1. Smooth Transition for ATRS

 

October 1, 2018 - Executive Director Update: Executive Director Retiring after a Decade at ATRS

Today I informed the ATRS Board that I will retire in December. After 10 years as ATRS executive director, I decided now is a good time to leave to allow new leadership while ATRS is in calm waters. I have been eligible to retire for over 6 years but never felt the timing worked until now.

ATRS has strong benefits, a great investment portfolio that delivers among the VERY highest (top 1%) investment returns of public retirement plans in the United States, and has no significant legislative agenda for the 2019 session (for the first time in 10 years). This is the calm that is good timing for a leadership change. Thankfully, the member-elected ATRS Board is the real leader of ATRS. You can always trust the member-elected ATRS to protect all members.

I am so grateful for the opportunity I have had to serve ATRS members. It has been a life changing experience for me. Words cannot express the depth of respect, gratitude, and love I have for all who have dedicated their lives to improve the lives of the children of Arkansas.

ATRS has been an active place for the last 10 years. Benefits were closely examined and changed to ensure a few did not benefit at the cost of the many. ATRS weathered the 2008 and 2009 financial crisis without even an employer contribution increase. ATRS totally changed the investment mix to bring strong returns with relatively lower risk. ATRS focused on a direct farmland program, real assets, opportunistic investments, and direct investments like Big River Steel.

I am attaching several slides I recently presented to a legislative committee on the strength and sustainability of ATRS. ATRS is now positioned to absorb market ups and downs and to protect members.

Respectfully,

George Hopkins

List of Attachments:

1. Strength and Sustainability of ATRS