Pay jumps for state investment officer

LINCOLN — The state's new investment officer will be paid $200,000 a year, a more than 20 percent increase over the previous occupant of the job.

Jeffrey States, currently chief investment officer for the Sacramento County (Calif.) Retirement System, was named Wednesday to the post by the Nebraska Investment Council.

States will help oversee more than $12 billion in pension funds for public school teachers, judges, State Patrol officers and county employees.

He joins eight other non-university state employees in Nebraska who make $200,000 or more. More than 90 employees of the University of Nebraska system make over $200,000.

David Bomberger, the previous state investment officer, earned $165,000 before resigning in March to take a job in Colorado, said Phyllis Chambers, executive director of the Nebraska Public Employees Retirement Systems.

Chambers said the salary was increased "at the recommendation of their search firm in order to attract qualified applicants."

“That's low, by most standards,” she said of the new salary.

States, who also has served as chief state investment officer in New Mexico, was selected following a nationwide search by the Investment Council and the consulting firm, Hudepohl & Associates.

Contact the writer:

402-473-9584, paul.hammel@owh.com