State's retirement guru to retire

Author:
Updated:
Original:

You may not know his name, but Howard Bicker has made a significant impact on the retirement security that thousands of state employees enjoy.

The Associated Press reports that Bicker is preparing to exit the post of executive director for the State Board of Investment after 32 years as its leader. Bicker manages $65 billion in state assets in public pension accounts.

Bicker has won praise for his savvy and prudent management of the portfolio. The world of high finance has grown increasingly sophisticated during his tenure, and Bicker has gone from overseeing common stock and bond trades done in-house to working with outside investment companies and international stock holdings. He's had a steady hand through the wild swings of the stock market.

"I've been accused of being an old fuddy duddy. That's fine," Bicker told the AP. "We don't chase the new fancy Wall Street stuff everyone wants to play with."

Bicker is one of the rare state officials allowed to outearn the governor; his salary is roughly $250,000. Those in the investment field point out that he could have earned several times that in the private arena.

The AP reports the state will pay a search firm about $120,000 to find his successor.

Next Up

Sergio Romo

Twins decline 2021 option on Sergio Romo

The Twins begin a potential overhaul in the bullpen.

high school football

'Scalpel approach' gives MN schools chance to keep playing sports

County infection rates are no longer the only thing that matters.

CJ-AHyggeHoliday-Photo2

With the help of HVAC, Circus Juventas will host its first holiday shows

After months of canceled classes and shows, Circus Juventas is hosting its first ever holiday show, with safety precautions.

Cameron Dantzler

Vikings send Cameron Dantzler to COVID-19/reserve list

Dantzler's placement leaves the Vikings paper-thin at cornerback heading into Green Bay.

peterson fischbach

Elections 2020 preview: 7th Congressional District

Will Collin Peterson hang on for yet another term?

Zimmer and Hunter

Zimmer explains why he called Hunter's neck injury a 'tweak'

The coach also said Dalvin Cook should return from injury this week.

magazines

60 charged in magazine scam that netted $300M

It's being called the largest elder fraud scheme in the country.

Screen Shot 2020-10-28 at 10.30.23 AM

The Star Tribune is shutting down City Pages

The free newspaper was bought by the Star Tribune in 2015.

billy's on grand

Coronavirus: Billy's on Grand will close for winter

The restaurant is among a growing list of eateries to close for the winter months.

Related