David Malone, executive director of the $360 million University of Arkansas Foundation, Fayetteville, has been offered the same position at the $7 billion Arkansas Teacher Retirement System, Little Rock. The system’s board gave Mr. Malone until Sept. 5 to decide if he wants the job. The annual salary at the Arkansas Teachers fund would be $100,199; he makes $128,390 a year in his current position, Mr. Malone said in an interview. Retirement system trustees asked the Arkansas Legislature to raise the system’s executive director salary to $150,000 a year, effective July 2003. "It’s not good to take a pay cut. That is one factor I have to weigh,” he said.
Bill Shirron resigned March 7 as head of the Arkansas Teacher system.
