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The Boston Globe


Massachusetts pension board to give big bonuses

The Massachusetts state pension agency is set to give a huge $815,000 performance bonus package to most of its 25-member staff, including a nearly $100,000 payout to its executive director, despite the fact that the fund sputtered through a fiscal year that ended with a slight loss in value.

The bonuses, which amount to nearly 20 percent of the entire 2012 staff payroll, will come on top of payouts last fall when the Pension Reserves Investment Management board awarded $267,328 in extra pay during a year when the fund also experienced a small loss.

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