California’s highest-paid state worker last year was not a surgeon or judge, but a pension investor collecting a seven-figure bonus.
Story Highlights
- CalPERS chief investment officer Stephen Gilmore topped California’s state payroll last year.
- Gilmore received about $2.36 million, including $1.5 million in “other pay” tied to incentives.
- State payroll data come from the State Controller’s official compensation portal.
- Other big earners include a prison psychiatrist and the head of a state insurance fund.
Official Data Show Who Earned the Most and Why
San Francisco Chronicle reporting, drawing on state payroll records, named Stephen Gilmore, the chief investment officer at the California Public Employees’ Retirement System, as the highest-paid state employee last year. New York Post coverage detailed his total at roughly $2.36 million, built on a base salary near $720,600, benefits close to $100,000, and about $1.5 million in “other pay” listed as an incentive award for the 2024–25 fiscal year, according to the department’s statement.
The California State Controller’s Office runs the Government Compensation in California portal that hosts these figures from public employers statewide. The portal gathers standardized pay categories each year and posts them for public review. A State Controller release describing the top state totals cited the chief investment officer position at the retirement system with regular pay near $720,600 and about $1.5 million in other pay, matching the reported structure behind Gilmore’s total.
Beyond One Name: Other High Earners on the State Roster
The compensation lists did not stop with pensions. Reports identified Samita Gandhi, a staff psychiatrist in the Department of Corrections and Rehabilitation, with total earnings around $873,872, reflecting the long-standing reality that prison medical roles can rank among top-paid state jobs. Coverage also named Vernon Steiner, president and chief executive officer of the State Compensation Insurance Fund, at about $1.2 million, underscoring how finance, insurance, and medical roles lead the state’s pay scale.
State materials and newsroom summaries noted that “other pay” can include incentive awards, lump sums, or bonuses, which makes a large difference when calculating “total earnings” beyond base pay and overtime. That definition helps explain why a pension investor could outrank public safety leaders or judges. The State Controller’s framework separates regular pay from other taxable elements, and media rankings often compile those pieces into one headline total for each employee.
What These Paychecks Mean for Taxpayers and Pension Holders
California’s transparency system makes clear that taxpayers fund high-stakes roles where performance matters, especially where billions of pension dollars are in play. Supporters argue incentive pay can attract proven investors and reduce long-term costs if returns beat the market. Critics see seven-figure bonuses inside government and ask if rewards match risk and public results. Either way, the Controller’s database lets citizens check the exact categories used to build each total.
For conservatives focused on value, two takeaways stand out. First, process discipline matters: using the Controller’s definitions keeps “total earnings” comparable across agencies and years. Second, accountability matters: when “other pay” drives rankings, agencies should explain the goals, benchmarks, and who approved each award. The reported figures are not rumors; they are official tallies. Clear, public standards for incentive pay protect workers who earn it and the taxpayers who fund it.
Sources:
nypost.com, sfchronicle.com, latimes.com, kwine.com, calcivilrights.ca.gov
