APNewsBreak: Investment board gives $8M in bonuses
MADISON (AP) -
Records released to The Associated Press show Wisconsin's pension fund managers are on track to get more than $8 million in bonuses as a reward for strong investment returns.
The bonus totals released Friday to the AP are nearly double what the State of Wisconsin Investment Board paid out in 2012. And they come at the same time that most retirees will see their pension payments decrease in May for the fifth year in a row due to effects of the 2008 recession.
Twenty-nine people will receive six-figure bonuses as long as they stay with the agency through the end of the year. Nearly everyone on staff, 139 out of 145 employees, will receive some bonus.
Chief Investment Officer David Villa is getting the largest bonus of nearly $421,000.