State pension employees to receive bonuses despite $1.8 billion loss
Jefferson City, MO – Investment and operation staffers for the Missouri State Employees Retirement System will receive about $460,000 in bonuses that some state lawmakers have called inappropriate.
MOSERS lost $1.8 billion this year, but the pension system has outperformed the market over the last five years, and met performance objectives for this year. The MOSERS board did authorize a study of the system's compensation system.
Gov. Jay Nixon called the bonuses "unconscionable," and lawmakers slashed $300,000 from the system's 2010 budget as punishment.