JUNEAU, Alaska (AP) – The Alaska Permanent Fund Corp. wants to pay its investment managers incentive compensation, which officials say is needed to recruit and retain talented employees.
KTOO Public Media and Alaska Public Media report the board over the nearly $64 billion fund adopted a policy earlier this year to start paying incentives worth up to 50 percent of investment managers’ salaries.
The board’s incentive compensation request is included in its annual budget request, which is up to Gov. Mike Dunleavy’s administration and the state Legislature to make it happen.
CEO Angela Rodell says the compensation allows investors to “benefit from the positive decisions that they make and they won’t benefit from the negative decisions they make.”
Information from: KTOO-FM, http://www.ktoo.org