The California Public Employees' Retirement System paid out double the bonuses to its staff last year because improved market performance helped the pension plan recoup its losses from the Great Recession.
More than 100 employees received a total of $7.7 million in bonuses, more than twice the $3.6 million paid out the previous year.
Joe Dear, CalPERS' chief investment officer, received a $321,750 bonus on top of his base salary of $500,000 and three other investment officers were paid more than $200,000 apiece, according to CalPERS.
Continue Reading for Free
Register and gain access to:
- Breaking benefits news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical converage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
