A legislative committee recently approved a large pay raise for the Executive Director of the State Retirement System.
Travis Almond’s salary was listed at more than $212,000 last year, but even at that level his salary was well below the market rate for his position.
The Retirement System’s Board of trustees recommended a 9.6% increase, which would still leave him below market.
State Representative Amber Arlint of Sioux Falls said the trustees’ recommendation carries a lot of weight. “This particular board of trustees is representing employees that are currently paying into our South Dakota retirement system, as well as those that are receiving disbursements,” Arlint said. “So they have an incredibly vested interest in the success of our program, and it’s clear that they have confidence in Travis.”
The Legislature approved a 1.56% Cost of Living Adjustment for state employees for the current fiscal year.
Thanks KELO-AM radio