American International Group Inc.'s three trustees, assigned to oversee the government's majority stake in the insurer, have asked CEO Edward Liddy to develop an employee pay plan this year.
"The compensation program should be designed to reward long-term, sustainable value creation," they said in testimony prepared for the House Committee on Oversight and Government Reform.
The three are to testify today in their first public appearance since they were appointed in January.
The trustees are under pressure to control expenses at the insurer after AIG paid about $165 million in bonuses in March to employees of the financial products unit, which almost caused the company's collapse with its bets tied to subprime home loans.
Christina Pretto, a spokeswoman for AIG, declined to comment on the testimony.
