The ASHERS Comparison
DFA opened the door to an Israel Bonds presentation; ASHERS later reported zero holdings and zero purchases.
The Arkansas State Highway Employees Retirement System offers a useful comparison with ATRS and APERS.
The pitch reached ASHERS
On April 16, 2025, a Department of Finance and Administration official introduced Israel Bonds representatives to ASHERS Executive Secretary Robyn Smith. The seller replied with a presentation and proposed a follow-up conversation.
That establishes a documented sales approach through DFA.
What happened afterward
An ASHERS message dated May 15 reported zero Israel Bonds holdings. Another message dated July 14 reported zero purchases. At both public checkpoints, the investment count remained zero.
Why the comparison matters
The same investment proposal reached several public institutions and produced different outcomes. A consistent written process would give members each institution’s financial reasoning alongside the outcome.
Browse the primary documents → Read the Integrity Act brief →