DALLAS (AP) — Texas teacher retirement fund's investment managers received more than $8.2 million in bonuses this year, more than double what every other state agency's top employees have received combined since 2007, according to a newspaper analysis published Sunday.
Results of The Dallas Morning News analysis published in Sunday's edition show the bonuses went to 54 top Teacher Retirement System investment managers who direct parts of the $100 billion fund. The biggest single bonus was $521,512 to the system's chief investment officer, who receives a base salary of $480,000.
The report comes as about 300,000 retired teachers have gone 10 years without a pension increase and state lawmakers struggle with a budget shortfall that could leave tens of thousands of teachers out of work.
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