# John Rollans Multi-system Arkansas pension retiree (ATRS retiree per his 5/19/2025 ATRS message; APERS retiree per his 5/19/2025 APERS message — same dual-question format sent to both systems on the same day). Email [email protected] (visible in the Milligan-batch production; the ATRS-batch production redacted this address). Mailing address 910 North Oak, Little Rock, AR 72205. Sent a 5/19/2025 inquiry to Mark White at 12:45 PM with the subject line "FOI Request" although his message was a member inquiry rather than a formal records request. Rollans asked two questions. First, about ATRS's direct holdings in Westrock Coffee, including the share count and the quarterly profit and loss history given the company's negative price-to-earnings ratio. Second, "Does ATRS have sovereign bond investments with the state of Israel and if so how much?" White responded on 5/19/2025 at 2:05 PM. He noted that the inquiry was not a proper FOI request because the statute applies to records requests rather than questions, but answered as a member service. On Westrock: ATRS owned 2.5 million shares of Westrock Coffee, with the most recent quarter showing $29.1 million gross profit and $27.2 million net loss. On Israel sovereigns: "ATRS indirectly owns Israel bonds through one of our bond funds. The value of our stake in those bonds is approximately $1 million." Rollans's inquiry sequence (Westrock and Israel sovereigns) was contemporaneous with the May 2025 internal preparation for the June Board action and the Wickline coverage. Rollans's question and White's reply pre-date the 6/2 Board vote. The Milligan custodian production captured a continuation of the Rollans correspondence not in the ATRS staff batch. Rollans replied on 5/19/2025 at 3:22 PM with a Westrock-specific dissent: "Westrock Coffee will probably not ever produce a profit. I really do not understand how ATRS can continue to own shares in Westrock Coffee... What would be the process for ATRS to divest its shares in Westrock Coffee?" White's 5/20/2025 reply defended Westrock by citing "5 analysts on Wall Street who are tracking and making recommendations on Westrock, and all 5 of them have the stock rated as 'buy'" and described the ATRS investment-decision procedure as consultant-recommendation-driven. White did not respond to a further Rollans message; he forwarded the chain to the ATRS Board on 6/9/2025 explaining "I missed that he copied all of you on his last email." Rollans copied two non-ATRS recipients on his 5/19/2025 messages: [email protected] and [email protected]. Their identities and roles are not established by the materials. They appear in the documentary record as recipients of Rollans's Westrock dissent. The Westrock framing in White's 5/20/2025 reply is the substantive load-bearing item from the Rollans correspondence. White's procedural description of how ATRS investment decisions get made, given to a member, is in tension with the procedural description he gave to Rod Graves about the contemporaneous Israel Bonds proposal. The companion concept page [[westrock-procedural-asymmetry]] addresses the implications. ## Evidence > "I am a retired member of the ATRS. I have some questions about some investments. ATRS has purchased stock in Westrock Coffeee. How many shares does the system own?" > John Rollans to Mark White, Emails3.pdf p.25, 5/19/2025 > "Does ATRS have sovereign bond investments with the state of Israel and if so how much?" > John Rollans to Mark White, Emails3.pdf p.25, 5/19/2025 > "On your second question, ATRS indirectly owns Israel bonds through one of our bond funds. The value of our stake in those bonds is approximately $1 million." > Mark White to John Rollans, Emails3.pdf p.26, 5/19/2025 > "Westrock Coffee will probably not ever produce a profit. I really do not understand how ATRS can continue to own shares in Westrock Coffee... What would be the process for ATRS to divest its shares in Westrock Coffee?" > John Rollans to Mark White, Communication with John Rollans - 9 june 2025.pdf p.2, 5/19/2025 > "I'd add that there are 5 analysts on Wall Street who are tracking and making recommendations on Westrock, and all 5 of them have the stock rated as 'buy'" > Mark White to John Rollans, Communication with John Rollans - 9 june 2025.pdf p.2, 5/20/2025 > "John Rollans, 910 North Oak, Little Rock, AR 72205" > Rollans signature, Communication with John Rollans - 9 june 2025.pdf p.3 ## Cross-References [[mark-white]] ATRS executive director who responded [[atrs-pre-existing-indirect-exposure]] concept page [[westrock-procedural-asymmetry]] companion concept page on the procedural standard White invoked in defending Westrock [[atrs-foia-r1-staff-emails]] [[auditor-foia-r1-milligan]] [[apers-foia-r1-7-7-25]] source pages ## APERS R1 production additions (7/7/25): Rollans is also an APERS retiree The 7/7/25 APERS R1 production reveals Rollans is also a retired APERS member. On 5/19/2025 12:54 PM (the day after his ATRS inquiry to Mark White), Rollans sent the same dual Westrock/Israel Bonds question to APERS Executive Director Amy Fecher: "Director Fecher, I am a retired member of the APERS. I have some questions about some investments. Does APERS own stock in Westrock coffee and if so how much? Does APERS have sovereign bond investments with the state of Israel and if so how much?" Same mailing address: 910 North Oak, Little Rock, AR 72205. The wiki's prior characterization of Rollans as an ATRS retiree is now refined: he is a multi-system Arkansas pension retiree, holding (or having held) membership in both ATRS and APERS, who sent the identical dual-question to both systems within 24 hours. Rollans is therefore systematically engaging with multiple Arkansas pension systems on the same dual concerns: Westrock Coffee (a struggling Arkansas-based public company) and Israel sovereigns. The Westrock dimension makes this a contemporaneous procurement-quality inquiry (Westrock is a domestic equity holding); the Israel sovereigns dimension makes it a politically-salient one. The same person framed both questions as procedural transparency requests via FOI to both systems. APERS's response was substantively different from ATRS's. Where Mark White ATRS sent Rollans the Westrock procedural-defense framing that became the Westrock procedural asymmetry finding ([[westrock-procedural-asymmetry]]), APERS's response — drafted by Fecher and confirmed by Borromeo on 5/19/2025 — was concise: "No, APERS does not own stock in Westrock Coffee. ... The APERS Board of Trustees Investment Finance Subcommittee authorized a $25-50 million investment in Israel Bonds at last week's meeting. We have not completed any bond purchases as of today but intend to do so." APERS's Westrock answer ("does not own") obviated the procedural-defense framing ATRS White produced. > "Director Fecher, I am a retired member of the APERS. I have some questions about some investments. Does APERS own stock in Westrock coffee and if so how much? Does APERS have sovereign bond investments with the state of Israel and if so how much? Thanks for your assistance. John Rollans / 910 North Oak / Little Rock, AR 72205" > John Rollans to Amy Fecher, IB_FOIA_MAY_25_Reviewed.pdf p.6, 5/19/2025 12:54 PM