54-52.5-04. Incentive compensation program - Report to legislative management
The state retirement and investment office may develop an incentive compensation program
for full-time equivalent investment and fiscal operations positions necessary for the
management of the investment of funds under the control of the state investment board. The
program must promote profitability, productivity, and responsible fund management. The
provisions of the program must be approved annually by the state investment board. The
provisions must ensure that the payouts do not occur unless the risk-based performance of the
investments that are internally managed exceed the risk-based performance of policy
benchmarks. Any amounts paid under this program must be considered compensation and not
personal profit on behalf of the employee. Each interim, the state retirement and investment
office shall provide at least one report to the legislative management regarding the status of the
program, including the provisions of the program; the total amount of incentives paid out to
employees each year; and the minimum, maximum, and average payout per eligible full-time
equivalent position.
