Monday, April 6, 2009

State retirement system managers get bonuses while fund loses $1.8B last year.

The Associated Press:

JEFFERSON CITY Wall Street investment managers aren't the only ones who got big checks despite huge losses last year.

The 14-member staff of the Missouri State Employees Retirement System received almost $300,000 in bonuses even as the pension fund lost almost $1.8 billion, The St. Louis Post-Dispatch reported Sunday.

Chief Investment Officer Rick Dahl got the biggest payment, drawing $114,000 early this year. The next largest bonus was $29,400 for the system's hedge funds manager.
Pension officials said the payments were based on Missouri's fund outperforming the market.

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