LITTLE ROCK Trustees of the Arkansas Teacher Retirement System are to vote on a proposal to invest $60 million in a steel mill that is planned in Osceola.
System Director George Hopkins says his staff and a consultant spent six months researching the project before Monday’s expected vote. Hopkins says the project appears sound and could generate a 40 percent return for the fund within five years.
The $60 million investment, if it happens, represents about one-half of 1 percent of the fund’s $12.25 billion balance.
Gov. Mike Beebe announced the $1 billion Big River Steel mill last week. The project needs the Legislature to sign off on a $125 million loan.
The Teacher Retirement System investment is contingent on the loan being approved and regulatory hurdles being cleared.