RICHMOND, Va. — The Virginia Retirement System director is getting a $50,000 bonus, which state officials said helps to make her salary more competitive.
The retirement systems recently told lawmakers that director Patricia Bishop is receiving a $50,000 tax-deferred supplement, bringing her total compensation to about $250,000.
The system’s board of trustees approved the bonus after considering that the average salary for similar officials in other states was about $245,000 in 2016.
The Richmond Times-Dispatch reported earlier this year that the system reached a historic high of $74 billion and had 11.8 percent return on investments in the last fiscal year.
Information from: Richmond Times-Dispatch, http://www.richmond.com