Arkansas Teacher Retirement System, Little Rock, will start using PAM for Securities in July, said George Snyder, CFO for the $8 billion pension fund. The portfolio management system will replace the spreadsheets used for managing portfolio data. For the first time, investment staff will be able to reconcile the buy/sell equity positions of 30 external money managers with custodian State Street on a daily basis, Mr. Snyder said. Implementing both PAM and a general ledger system from J.D. Edwards is expected to cost the system $4 million.