Rewarding someone for inadequate job
Editor, Daily Times:
A March 16 article in the Wisconsin State Journal stated that the State Investment Board’s employee bonuses of $9.7M were a six year low. No employee would be receiving a bonus greater than $400K although the top five were already making over $200K. These rewards were based on the fact that their work resulted in a preliminary return of only -3.3 percent to the Core Fund and -7.9 percent to the Variable Fund of the Wisconsin Retirement System.
I am one of the members of the WRS that due to their excellent work will not see a pension payment increase this year. I guess we should be thankful that they didn’t do worse so we would have had a payment reduction.
However, it doesn’t seem right to reward someone for doing an inadequate job. If those of us who worked under the WRS plan had done our job as they did theirs, we would have been fired not rewarded. It is true that life is not always fair.
Gerald W. Meier