By CATHY BUSSEWITZ Associated Press Writer
Posted: 09/21/2010 12:13:25 AM PDT
SACRAMENTO, Calif.—As its investment portfolio was losing nearly a quarter of its value, the country’s largest public pension fund doled out six-figure bonuses and substantial raises to its top employees, an analysis by The Associated Press has found.
Board member Tony Olivera said the California Public Employees’ Retirement System tried to reduce the bonuses but was under contractual obligations to pay them.













