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Committee advances bill to smooth investment performance pay for treasurer’s office
Summary
Senate File 38 would change the averaging method used to compute performance compensation for investment staff in the State Treasurer’s Office and was approved by the committee after staff explained it smooths year-to-year volatility.
The Senate Appropriations Committee voted to advance Senate File 38, which modifies how the state calculates investment performance compensation for participants tied to state investment returns.
Senator Gru introduced the bill, which the committee was told originates from the State Treasurer's Office and a prior study on performance compensation. "What it does on page 2, the state treasurer may implement and administer a performance compensation plan in accordance with this subsection," Gru said, describing arithmetic and geometric averaging methods intended to smooth payouts.
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