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Endowment Fund Investment Board asks for pay increases for two investment staff; governor did not recommend raises
Summary
At a Joint Finance Committee hearing the Endowment Fund Investment Board presented a FY2026 budget that included requests to raise pay for two long‑time investment staff. The board and its compensation committee recommended increases intended to retain experienced staff; the governor’s recommendation did not include the requested compensation.
Janet Jessup, a budget and policy analyst with the Legislative Services Office, told the Joint Finance Committee that the Endowment Fund Investment Board manages investments for state endowments, the state insurance fund and other statutorily required accounts and presented the board’s FY2026 budget request.
The board requested compensation increases for two senior investment staff to bring pay closer to market, arguing the roles have grown in complexity as the funds under management expanded. Thomas (Tom) Wilford, chairman of the Endowment Fund Investment Board, and Chris Anton, manager of investments for the Endowment Fund Investment Board, told the committee the increases are meant to retain experienced staff and reflect job complexity.
The Endowment Fund Investment Board asked for roughly $100,000 in additional ongoing compensation for two staff members as part of its FY2026 request; the governor’s recommendation did not include those compensation increases, though it supported general…
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