BRADENTON, Fla. — Florida State Board of Administration trustees yesterday said they would hire a national search firm to find a new executive director and chief investment officer for the SBA, which oversees the Florida Retirement System Pension Plan, the Local Government Investment Pool, and other funds.

Gov. Charlie Crist, Chief Financial Officer Alex Sink, and Attorney General Bill McCollum, who are the trustees of the state agency, unanimously agreed that in order to get top-rate candidates to apply, the new director would be paid between $250,000 and $350,000 annually, plus bonuses.

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