Washington • After 40 years in the Senate, Utah’s Orrin Hatch said Monday he plans to retire at the end of the year and not seek re-election, ending breathless speculation on whether the powerful senator would try for an eighth term.

Hatch, who has $4.7 million in his campaign account and a fundraiser scheduled this weekend, said he has been honored to serve and that he’s a fighter – but that the time has come.

“Every good fighter knows when to hang up the gloves,” the senator said in a video released by his office. “For me, that time is soon approaching. That’s why after much prayer and discussion with family and friends, I’ve decided to retire at the end of this term.”

Polls have shown that three quarters of Utahns wanted Hatch, 83, to retire, though the senator had said he was listening to pressure from President Donald Trump, fellow senators and other Utah leaders in weighing another term. He said Monday that was not to be.

“Although I will miss serving you in the Senate, I look forward to spending more time with my family, especially my sweet wife, Elaine, whose unwavering love and support made all of this possible,” Hatch said.

The senator had said recently his wife had urged him not to run again.

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