Gail Stone, executive director of the $8.9 billion Arkansas Public Employees Retirement System, Little Rock, has confirmed she will retire, effective Dec. 31.
Her deputy, Jay Willis, will serve as interim executive director while the board seeks a permanent replacement.
The search will be conducted by the office of personnel management. Ms. Stone said she believes the board intends to interview candidates on Jan. 8.
The pension fund returned a gross 10.25% for the fiscal year ended June 30, above its benchmark of 8.4%.
