The Federal Home Loan Bank of Des Moines has adopted a new policy governing director compensation that will take effect on January 1, 2027. The policy outlines specific annual fees for board leadership roles and establishes performance requirements for payment.
Under the new schedule, the Chair of the Board of Directors will receive an annual compensation of $165,000. The Vice Chair of the Board will receive $142,000. Chairs of the Audit, Risk and Compliance, and Human Resources & Compensation Committees are set to receive $137,000. Chairs of all other board committees will receive $130,210, and all other directors are set to receive $123,000.
The policy includes a performance-based payment structure. Directors receive one quarter of their annual compensation on the last business day of each calendar quarter. However, the Bank has the right to withhold the fourth quarter payment if a director attends less than 75 percent of the meetings they were required to attend during the year.
Additionally, the policy allows for pro-rata adjustments for directors who serve on the board or hold specific titles for only a portion of a calendar year. The policy also stipulates that the Chair or Vice Chair of the Board has the authority to make other compensation adjustments for directors who fail to meet performance requirements or demonstrate a lack of participation.
Directors are eligible to participate in the Bank’s Deferral Plan for Directors, which allows them to defer all or a portion of their fees. The Bank will also reimburse directors for reasonable travel, subsistence, and other related expenses incurred in connection with their duties, with a maximum reimbursement of $2,000 per year for a director’s spouse or guest accompanying them to a board meeting.
