LITTLE ROCK, Ark. (AP) - A surging stock market is giving a financial boost to some of Arkansas' public retirement systems.
The Arkansas Democrat-Gazette reports that the value of the Arkansas State Highway Employees Retirement System's investments increased by $49 million to $1.35 billion and showed a return on investments of 11.21 percent in the fiscal year that ended on June 30.
The Arkansas Judicial Retirement System's investments rose in value by $25 million to $240.9 million in the fiscal year, with a return on investment of 13.35 percent.
Robyn Smith, executive secretary of the highway worker's retirement system portfolio performed in line with expectations given the market's performance. The system's stock market investments totaled $1.026 billion on June 30.
Gail Stone, executive director of the judicial retirement system, says its performance was "very good."