Question 1: Can you give us a breakdown of the salaries at TCRS?
A: State and local workers rely on these officials to invest their pension savings, but a good amount of state money is going into their own pockets.
Officials help decide how to invest pension savings and are responsible for data security for employee info from around the state.
The average pay is $167,000!
Their top officers make up four of the five highest paid state employees
Chief Investment Officer George Brakebill took home $723,000 last year — he’s the highest paid state employee
Real estate director Jeanpierre Rachmaninoff took home $447,000, he’s the second highest paid.
Strategic lending director Jeffrey Dunn $427,000, fourth highest paid
Fixed income director Markus Klar $414,000, fifth highest paid
There’s just over 70 people working for TCRS — 24 of them made $200,000 or more.
Question 2: How do those salaries compare to others from around the state?
A: These retirement officials are the highest paid besides doctors.
I mentioned the average TCRS pay is $167,000 — the average state employee makes $75,000, less than half the retirement system employees.
There are 213 people statewide who make more than Gov. Bill Lee’s $224,000 salary — less than 1% of state employees.
But retirement system employees, 20 out of 72 make more than the governor — that’s 28% of their staff.