By Virginia Young
ST. LOUIS POST-DISPATCH
April 5, 2009
State pension fund managers rewarded despite losses

JEFFERSON CITY — As the stock market tanked last year, the investment portfolio held by the Missouri State Employees Retirement System plummeted by nearly $1.8 billion.

Even so, the system's 14-member investment staff received nearly $300,000 in bonuses. The biggest check went to Chief Investment Officer Rick Dahl, who drew $114,000 early this year. The next-largest bonus was $29,400 for the system's hedge funds manager.

Why were state employees rewarded for a decline in investments?

Because the system's fund did better than the market. MORE POLITICAL NEWS See all our political coverage The Political Fix keeps you on top of local, state and national politics.