MADISON, Wis. (AP) - Wisconsin pension fund managers and those who work directly with the state's investments will receive bonuses totaling $9.8 million this year, down 15 percent from 2018.
The State of Wisconsin Investment Board announced the bonuses Friday.
It marks the second year of declined in bonuses for fund managers after they hit a record-high of $14 million in 2017. This year's bonuses are the lowest paid in the past five years.
The board said the bonuses follow a pay-for-performance compensation model that is based on the employee's contribution to the overall success of the organization, trust fund performance and costs.
The board ended 2018 beating both its five- and 10-year performance benchmarks for the main investment fund that all retirees have some money in.