2 Va. retirement officials earn highest state pay

Virginia Retirement System (VRS)RICHMOND, Va. (AP) — The Virginia Retirement System’s chief investment officer and its second in command top a list of the highest-paid state employees. The list was compiled by the Richmond Times-Dispatch. The newspaper says it used the Freedom of Information Act to obtain salary information for 104,722 state employees for the fiscal year that began July 1, 2013, and ended June 31, 2014. Virginia Retirement System chief investment officer Ronald D. Schmitz was the highest-paid employee, earning $786,596 in cash compensation thanks to a bonus. The system’s director of internal asset management, Charles W. Grant, earned the second-highest pay, $670,811. Virginia Retirement System board chairwoman Diana F. Cantor tells the newspaper that the portfolio’s performance has more than doubled its target rate last year.

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