Arkansas lawmakers back 2nd look at $1.5M claim against state retiree pension system

A legislative subcommittee on Monday decided it wants the state Claims Commission to consider the merits of a $1.5 million claim filed by an investment fund manager against the Arkansas Public Employees Retirement System.

The Legislative Council's Claims Review Subcommittee made that recommendation to the Legislative Council.

In May 2017, Ellis M. Sloan of Searcy filed a claim for $1,549,152 against the retirement system, alleging that then-system Executive Director Gail Stone promised that Sloan could continue to manage an investment fund if he left Horrell Capital Management for Kernodle and Katon Tax & Asset Management Group. System Deputy Director Jay Wills said Stone strongly disputed Sloan's claims.

Sloan, who now works for Apex Wealth Management, was the portfolio manager for Kernodle and Katon at the time the lawsuit was filed, said Sloan's attorney, Nate Steel of Little Rock.

Read more: https://www.arkansasonline.com/news/2019/jun/18/lawmakers-back-2nd-look-at-claim-agains/?news-politics