To the editor,

Recently, the State Investment Board tabled an agenda item aimed to reward some of the top talent within the state for extraordinary efforts in managing North Dakota’s $26 billion in assets, including the $13 billion (and growing) Legacy Fund. Executive Director Jodi Smith proposed nearly $1.258 million in bonuses for 12 employees as a reward for achieving more than $191 million in excess returns during fiscal 2025. That amounts to 0.66%. Columnists and others quickly dogpiled on Smith's efforts, questioning why state dollars are going toward bonuses when they should be going to the citizenry. Critics drew the comparison to the recent Commerce Department legislative session performance bonuses, or Legislative Council's end-of-session bonuses, but it’s important to note the

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