The California Public Employees' Retirement System paid out double the bonuses to its staff last year because improved market performance helped the pension plan recoup its losses from the Great Recession.
More than 100 employees received a total of $7.7 million in bonuses, more than twice the $3.6 million paid out the previous year.
Joe Dear, CalPERS' chief investment officer, received a $321,750 bonus on top of his base salary of $500,000 and three other investment officers were paid more than $200,000 apiece, according to CalPERS.
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