Despite presiding over a $1 billion loss last year, the executive director of the state's pension fund will receive a $64,000 bonus on top of his $322,000 annual salary because the fund outperformed the market indexes and many other major state pension funds.
The board that manages the state's $50.6 billion pension fund has fired five firms that managed a $1.82 billion U.S. stock portfolio, citing poor performance.
