Pension fund bonuses under scrutiny
Agency lost money over review period
At a time when few public employees are getting raises, the agency that manages the state’s pension fund have earmarked more than a quarter of a million dollars for staff bonuses, including a possible $33,000 payment to the executive director, according to internal documents. The bonuses, awarded through a performance-based compensation system adopted four years ago, are tied to a three-year period ending in June. During that time, the fund - which started at $50.6 billion - suffered deep losses before rebounding to $45.6 billion.