PENSION PERKS

Almost half of the 50 highest paid fund directors also collect pensions.

Fund director Yearly pay Fund complex No. funds Pension

John Haire $406,240 MSDW 98 $132,002

Richard B. Bailey 283,647 MFS 69 $77,452

Wayne Whalen 285,825 Van Kampen 103 157,5001

Michael Nugent 223,427 MSDW 98 55,026

John Schroeder 223,427 MSDW 98 46,123

Manuel Johnson 216,827 MSDW 98 55,026

William F. Pounds 201,000 Putnam 101 98,000

J. Dale Sherratt 184,067 MFS 42 45,292

Ward Smith 184,067 MFS 42 43,484

Ronald J. Jackson 176,000 Putnam 101 87,5002

Jameson A. Baxter 176,000 Putnam 101 87,5002

Robert E. Patterson 176,000 Putnam 101 87,5002

Donald S. Perkins 176,000 Putnam 101 87,5002

W. Nicholas Thorndike 176,000 Putnam 101 87,5002

Hans H. Estin 175,000 Putnam 101 87,5002

John A. Hill 175,000 Putnam 101 87,5002

George Putnam 175,000 Putnam 101 87,5002

Elizabeth T. Kennan 174,000 Putnam 101 87,5002

George Putnam III 174,000 Putnam 101 87,5002

Lawrence J. Lasser 172,000 Putnam 101 87,5002

A.J.C. Smith 170,000 Putnam 101 87,5002

Data as of yearend 1997 except for Van Kampen, which are as of yearend 1998

1 Per year over 10 years

2 Annual retirement benefits, payable for at least five years.

Source: InvestmentNews study of latest SEC filings