State retirement system managers get bonuses
Monday, April 6, 2009
Mo. retirement system managers get bonuses
JEFFERSON CITY, Mo. -- 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, according to the St. Louis Post-Dispatch. 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. Missouri Gov. Jay Nixon, whose office didn't know about the payments until told by the newspaper, called the bonuses "unconscionable."
-- From staff and wire reports