MADISON, Wis. (AP) -- Wisconsin Chief Investment Officer David Villa is receiving the largest bonus out of the $13.3 million being awarded the state's pension fund managers as a reward for strong investment returns.
The bonuses approved by the State of Wisconsin Investment Board are 66 percent higher than the $8 million awarded last year. The board announced the overall bonuses on Friday and released the individual amounts Wednesday.
Villa will receive a $660,000 bonus this year. That compares with the nearly $421,000 he got last year.
The board manages more than $104 billion in assets, most of which is in the Wisconsin Retirement System.
The board says over the past five years the staff's investment performance above market returns has added $2.65 billion to the retirement system, which benefits more than 590,000 people.