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41 Va. Retirement System workers get bonuses

Friday - 9/13/2013, 10:58am  ET

RICHMOND, Va. -- Virginia Retirement System employees are getting bonuses for the agency's performance in the fiscal year that ended June 30.

The bonuses include a total of almost $4.5 million awarded to 41 members of the pension system's internal investment staff. Nearly 300 other employees will receive bonuses totaling $423,000.

The Richmond Times-Dispatch (http://bit.ly/16pcGUU ) reports that the system's board of trustees approved the bonuses on Thursday.

The system showed an 11.8 percent return on its investments in the last fiscal year. The internal investment staff also helped save the system an estimated $11.4 million in fees to Wall Street fund managers.

As of Sept. 2, the pension trust fund was estimated to be worth $57.8 billion.

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Information from: Richmond Times-Dispatch, http://www.timesdispatch.com


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