Ethan Schutt
128:37 - 129:29
“I'm excited personally about this step in the transparency and governance of the organization, and I fully support the notion of having a benchmarks committee in the structure to review annually and review any proposed changes to benchmarks, which ultimately is reserved to this Board for the ultimate decision, but as a working body to review those on an annual basis and then make recommendations for changes, if any. I think it's a critical step, and given the nature of how benchmarks can incentivize behavior by investment teams and staff and/or reward them with their near-annual performance bonuses.”
- Speaker
- Ethan Schutt
- Timestamp
- 128:37 – 129:29
- Community
- Alaska News
- Location
- Nome
- Captured at
- October 2, 2026
From the transcript
Uh, we, we did meet on this in July, Governance Committee. Uh, it was a good committee meeting with a lot of robust discussion and, uh, input from the staff. Um, I, you know, we, we made a recommendation as a committee for this board to approve This new policy is subject to the drafting of the charter. I'm excited personally about this step in the transparency and governance of the organization, and I fully support the notion of having a benchmarks committee in the structure to review annually and review any proposed changes to benchmarks, which ultimately is reserved to this Board for the ultimate decision, but as a working body to review those on an annual basis and then make recommendations for changes, if any. I think it's a critical step, and given the nature of how benchmarks can incentivize behavior by investment teams and staff and/or reward them with their near-annual performance bonuses.
Related Coverage
Permanent Fund trustees create committee to review benchmarks tied to staff bonuses
Permanent Fund trustees set up a committee to review the yardsticks used to judge investment staff and set their bonuses. Most staff got none this year.
