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Pension head to get $101,000 raise, keeping up with other state

Associated Press

ST. PAUL — The head of Minnesota’s state pension fund is getting an immediate $101,000 raise.

Howard Bicker says now that a legislative panel approved a higher salary range, his salary goes up from $144,000 a year to $245,000 a year.

His job at the State Board of Investment is to manage $63.5 billion in public employee pension assets.

Bicker says the raise for him and other Board of Investment employees puts them in line with what other states pay. He says he plans to recruit an assistant after losing the previous one to a better-paying job in Maryland.

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The raise comes after a subcommittee of the Legislative Coordinating Commission approved a compensation plan for the Board of Investment. The board had recommended the new salary for Bicker in June, pending approval from the the legislative panel.

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