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Vermont Pension Investment Commission asks for $250,000 to start pay adjustments to retain investment staff
Summary
The Vermont Pension Investment Commission told the Senate Appropriations Committee it needs a $250,000 one‑time appropriation to begin implementing recommendations from a 2022 Mercer compensation study aimed at moving key investment staff toward market median pay to reduce turnover risk for the state pension fund.
The Vermont Pension Investment Commission asked the Senate Appropriations Committee on April 8 for a $250,000 one‑time appropriation and a 3 percent base increase as part of its fiscal‑year 2026 budget request to begin implementing a compensation plan intended to retain investment staff.
The request accompanies VPIC’s regular budget request and reflects recommendations from a 2022 Mercer commercial compensation study that the commission provided to the Legislature under Act 75 when VPIC was spun off from the treasurer’s office. Tom, a senior VPIC official who briefed the committee, said the $250,000 would cover roughly a quarter of the near‑term gap between current pay and the commission’s target for certain positions. “That $250,000 would be about a fourth of the gap in compensation between where staff currently is and moving us toward…
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