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Endowment Fund board seeks pay increases for two senior investment staff; governor declines compensation request
Summary
The Endowment Fund Investment Board told the Joint Finance Committee it recommended raising pay for two long‑tenured investment staff to improve market competitiveness and reduce turnover. The governor's budget did not include the requested compensation increases; agency and board leaders urged the committee to consider the request.
Endowment Fund Investment Board officials told members of the Joint Finance/Appropriations Committee that the board recommended paying two senior investment staff larger raises to reflect expanded responsibilities and market comparators, but the governor's budget did not include the requested compensation increases.
The board’s chair, Thomas Wilford, and the board’s investment manager, Chris Anton, appeared with Legislative Services budget analyst Janet Jessup to outline personnel history and the compensation request. Jessup said the board requested $100,000 to increase salaries for two staff members as part of its FY2026 submission. Wilford described a long history of staggered enhancements dating to when Anton was hired and said the board is concerned that a future replacement would cost more than current pay levels.
The request stems from changes in the board’s work and endowment portfolio.…
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