Gov. Asa Hutchinson's former legislative affairs director, Rett Hatcher, will start work today as the deputy director of the Arkansas Teacher Retirement System, system Director George Hopkins said Tuesday.
Hatcher, whose salary was $92,263 a year in the Republican governor's office, will make $114,028 a year, Hopkins said.
Hopkins said the system didn't advertise the deputy director position because "I knew Rett Hatcher was the right fit and saw no reason to delay the filling of the position."
Hatcher replaces Deputy Director Gail Bolden, who is moving into a part-time position as deputy director emeritus with the ability to work up to 30 hours a week for the retirement system, Hopkins said. As deputy director, Bolden's salary was $114,028 a year at the system, where she has worked since 1975.
The teacher retirement system is state government's largest with more than $15 billion in investments.
Hopkins, an attorney, has been the director of the teacher retirement system since December 2008. Hopkins was a Democrat in the Senate from 1987-2000 and served as co-chairman of the public retirement committee for six years. His salary is $178,325 a year.
Sen. Bart Hester, who is co-chairman of the Legislature's Joint Committee on Public Retirement and Social Security Programs, said he's heard "the rumor" about Hatcher was going to work for the retirement system for a few months, so he's not surprised about Hopkins' appointment of Hatcher as deputy director.
Hatcher is a hard worker who will be very committed to the success and growth of the teacher retirement system, said Hester, a Republican from Cave Springs.
Sen. Bryan King, a Green Forest Republican who clashed with Hatcher at times in the past, said he wonders about Hatcher's experience and qualifications to be the teacher retirement system's deputy director.
"What's he going to do?" King said.
Hopkins said in an email Tuesday to the system's board of directors that he offered the deputy director position to Hatcher "after affirmative notice" from board Chairman Jeff Stubblefield of Charleston.
"Since 2015, I have worked directly with him on several legislative and governmental issues affecting ATRS. He has always been informed and prepared," Hopkins wrote in his email. "He is highly respected by the General Assembly and well-liked by his co-workers. I really admire his work ethic."
Hopkins said in an email that although Hatcher is only 30 years old, on July 1st he will have 10 years of service with Arkansas retirement plans (three as a police officer in the Local Police and Fire Retirement System) and working for Hutchinson and the Secretary of State in the Arkansas Public Employees Retirement System.
"He understands the importance of quality retirement systems," Hopkin wrote.
Hopkins said Hatcher is a licensed attorney who also has passed two of four parts of the certified public accountant exam and is waiting on the results of the last two parts of the exam.
"Law and accounting are big components of retirement plans like ATRS. Mr. Hatcher knows the legislative process, understands Arkansas government, is a hard worker, and brings both legal and accounting skills to ATRS," Hopkins wrote in his email to the trustees.
"Gail Bolden and I will work to teach him the culture and approach of ATRS as he gains knowledge about all aspects of ATRS. Rett brings an array of skills and capabilities that ATRS really needs at this time," Hopkins said.
Hopkins said in a separate email to the system's trustees that this change allowing Bolden to work up to 30 hours a week for the system "allows Gail to have the extra time off that she needs while allowing ATRS to continue having the benefit of her wisdom.
Hutchinson spokesman J.R. Davis said Robert Moery, former deputy director of legislative affairs within the governor's office, will become the new director of legislative affairs.
He also will take on additional duties related to the governor's policy that state agencies under the governor's control are required to get the governor's permission to fill vacant positions. Moery's salary will be about $75,000 a year -- up from his current salary of $65,834 a year.
Metro on 06/21/2017