The value of investments held by Arkansas’ state retirement systems fell more than $2 billion in the fourth quarter of 2008, marking the second consecutive quarter in which the systems reported investment losses in excess of $2 billion.

George Hopkins, executive director of the Arkansas Teacher Retirement System, told the legislature’s Joint Committee on Public Retirement and Social Security Programs last week that the value of the system’s investments fell $1.1 billion to $9.6 billion in the third quarter and by $1.3 billion in the fourth quarter to $8.3 billion.

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