In this issue

CIOs vote with their feet

Casey Family Programs seeks a director of investments

Pension underfunding: more pressure to perform?

Comings and goings

Michael Travaglini and MassPRIM: Pay, Performance and Politics in Boston

In our last letter, we noted the muddle in Missouri over incentive pay for public pension managers. Missouri, like many states, is in fiscal lockdown. In this climate, the politicians are reluctant to pay fund managers a bonus, however much they’ve earned it by saving the taxpayers hundreds of millions they would otherwise have had to ante up for pensions. Still, the managers affected are – so far – still at their stations in Jefferson City.