The North Dakota House Government and Veterans Affairs Committee recommended against a bill that would repeal an incentive compensation program for the state Retirement and Investment Office, introduced by Reps. Satrom, Ostlie, and Beltz. The program allows top officials to earn up to 100% of their salaries in incentives based on investment performance. Despite concerns about communication and the scope of the program, some legislators support it to attract and retain talented professionals. Others argue that the program needs further review and transparency. State Treasurer Beadle opposed the bill, citing concerns about losing staff due to the program’s attractiveness. However, the current program was approved by the State Investment Board in a 10-3 vote, with dissenting members pointing out issues with the bonus structure. The debate continues over whether to repeal the program or revise it with input from the Legislature and the new chair of the State Investment Board, Gov. Kelly Armstrong.
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