Money & Company

Tracking the market and economic trends
that shape your finances.

« Previous Post | Money & Company Home | Next Post »

CalPERS gives top execs $4.5 million in bonuses

October 7, 2011 |  4:24 pm

Calpers board













Top administrators and investment officers at the California Public Employees' Retirement System, the country's biggest government pension plan, were awarded $4.5 million in bonuses, averaging 41% of their base salaries for the year that ended June 30.

The annualized bonuses ranged from a high of 73% of salary to the senior portfolio manager for fixed income to a low of 14% for the senior investment officer in charge of risk management.

The chief executive, Anne Stausboll, got an extra 34% of her salary, $96,638, on top of her 2010-11 base pay of $283,500. Chief Investment Officer Joseph Dear received a bonus of $84,375, or 19% of his annual pay of $450,000.

The bonuses came after CalPERS reported a return on investment of 20.7% for the fiscal year that ended in June. It was the fund's best performance in 14 years.

Since then, a volatile world economy has created worsening investment conditions. The fund is down 8.2% to about $218 billion since July 1.


CalPERS rolling out new computer system, late and at higher cost

CalPERS officials are fined for not properly reporting gifts

CalPERS drops suit against Fitch Ratings

-- Marc Lifsher

Photo: A CalPERS board meeting. Credit: Robert Durell / Los Angeles Times.