- Associated Press - Friday, September 12, 2014

PIERRE, S.D. (AP) - Employees with the South Dakota Investment Council are receiving big bonuses this year after growing the investment portfolio for the state’s retirement system more than $1.7 billion in the last fiscal year.

Matt Clark is South Dakota’s State Investment Officer. Clark says on average the employees in the investment office are receiving bonuses of 144 percent of their base pay. Combined the 20 employees are receiving $4.7 million in bonuses.

Bonus pay this year ranges from more than 190 percent of one’s salary to around 70 percent.

This is the first year employees will receive bonuses under the new system that allows for most of the staff to earn incentives of up to 200 percent of their salary. It was set up in lieu of higher salaries.

Copyright © 2018 The Washington Times, LLC.

The Washington Times Comment Policy

The Washington Times is switching its third-party commenting system from Disqus to Spot.IM. You will need to either create an account with Spot.im or if you wish to use your Disqus account look under the Conversation for the link "Have a Disqus Account?". Please read our Comment Policy before commenting.

 

Click to Read More

Click to Hide