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Endowment Fund board asks JFAC to fund $100,000 pay package for two staff; governor did not recommend raises
Summary
The Endowment Fund Investment Board told the Joint Finance-Appropriations Committee it requested $100,000 to increase salaries for two investment staff, citing market competitiveness and long service; the governor’s budget omitted the pay increases.
The Joint Finance-Appropriations Committee heard Tuesday that the Endowment Fund Investment Board requested $100,000 in ongoing compensation to raise salaries for two staff members, but the governor’s FY2026 recommendation did not include that compensation increase.
Janet Jessup, budget and policy analyst with the Legislative Services Office, told the committee the board’s FY2026 request included “$100,000 compensation to increase salaries for 2 of its staff members,” and noted the governor’s recommendation “does not include the compensation requested for staff.”
The board’s investment manager, Chris Anton, told the committee the board’s compensation recommendations were developed by the board’s compensation committee and supported by…
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