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Endowment Fund board seeks pay raises for two investment staff; governor declines
Summary
The Endowment Fund Investment Board asked the Joint Finance-Appropriations Committee on Wednesday to approve roughly $100,000 in pay increases for two long‑time investment staff; the governor’s recommended budget omitted the requested compensation.
The Endowment Fund Investment Board asked the Joint Finance-Appropriations Committee on Wednesday to approve additional compensation for two long‑time investment staff after the board’s pay‑study and compensation committee recommended raises.
Budget and policy analyst Janet Jessup of the Legislative Services Office told the committee the board’s FY2026 request included about $100,000 “compensation to increase salaries for 2 of its staff members,” plus modest inflation and one‑time hardware funding; she said the governor’s recommendation did not include the requested compensation increase.
Why it matters: Board leaders told the committee the staffing and pay changes respond to a much larger, more complex portfolio and to market comparisons that show key staff are paid below peers. Committee members sought explanation because the requested increase is sizeable compared with typical state employee adjustments.
Board and staff accounts Chris Antone (identified in…
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