North Dakota is reviewing $1.2M in bonuses for 12 state employees, including a $293K payout to the top official, tied to investment gains.

The North Dakota State Investment Board is reviewing over $1.2 million in performance bonuses for 12 state employees in the Retirement and Investment Office, with payouts averaging $104,000 and tied to $191 million in excess investment returns during Fiscal Year 2025. The largest bonus, $293,280, went to Chief Investment Officer Scott Anderson, equating to 94% of his salary. The program, supported by State Treasurer Thomas Beadle as a performance-based incentive, has drawn criticism from lawmakers who say it has expanded beyond its original scope and disproportionately benefits top executives, raising concerns about fairness and accountability.