Minnesota / Investment Board

Agency file

Investment Board

Source file: Minnesota — State Employee Payroll / ingested Jun 18, 2026

The Investment Board is a government agency that delivers public services and programs within its jurisdiction.

In 2025, this agency had 60 employees with median total compensation of $125,287; the highest distinct record was $530,631.

Year: 2025
Total payroll: $8.4M
Employees: 60
Median total: $125,287
Highest record: $530,631

What the records show

Compensation analytics

These summaries compare pay within the agency before listing individual records.

Salary distribution

$1,646$402,026+

Hover a bar for its range; click to filter the list below.

How 2025 total compensation is spread across the 60 employees. Each bar is a pay range; taller bars mean more people earn in that range. The amber line marks the median ($125,287) — half earn less, half more. The far-right bar collects the highest earners.

Average pay composition

Base — $137,348 (99%)
Overtime — $2 (0%)
Other — $2,046 (1%)
Benefits — $0 (0%)

What an average paycheck here is made of — base salary versus overtime, other pay (bonuses, allowances), and benefits. A large overtime or other-pay share means take-home often exceeds base salary.

Pay percentiles

10th

25th

Median

75th

90th

$4,590

$61,612

$125,287

$213,717

$268,353

The pay ladder for this department. Someone at the 90th percentile earns $268,353 — more than 90% of the department; the 10th percentile earns $4,590. The shaded band is the middle half of employees (25th–75th percentile).

Largest job titles

Student Worker Paraprofessional Professional Senior

12 · $3,158

Investment Analyst Junior

11 · $85,517

Investment Officer

9 · $182,791

Portfolio Manager

6 · $228,607

Investment Analyst Senior

4 · $139,716

The most common job titles in this department by headcount, with the median total compensation for each. Click a title to see everyone who holds it.

Trend

Year over year

How this department's total payroll, headcount, and median pay changed across the 2 published years.

Year	Total payroll	Employees	Median pay
2024	$6.4M —	44 —	$149,849 —
2025	$8.4M ▲ 29.8%	60 ▲ 36.4%	$125,287 ▼ 16.4%

Record list

Employees

Page 1

Sheila Pechacek

Portfolio Manager/Investment Board

2025 total comp

$217,151

Sub-department: Private Markets & Active Eq
Base pay: $217,151
Overtime: $0
Other pay: $0
Benefits: $0
Total compensation: $217,151
Hire date: 2021-05-03
Employment type: Full-Time
Pay grade: 15
Union / bargaining unit: Manager
Pay basis: Hourly
Full-time equivalent (FTE): 1
Work county: Ramsey

Source-specific fields

Active on June 30, 2025: Yes
Agency Number: G38
Bargaining Unit Number: 220
Branch: Executive
Branch Code: Executive
Classified Code: Unclassified
Classified Status: Unclassified
Compensation Frequency Code: Hourly

Sheila Pechacek is a Portfolio Manager at Investment Board within Private Markets & Active Eq. Their tenure dates to 2021, about 4 years, working full-time. 2025 total compensation came to $217,151. Their bargaining unit is Manager.

David Velasquez

Investment Officer/Investment Board

2025 total comp

$213,717

Sub-department: Public Markets
Base pay: $213,717
Overtime: $0
Other pay: $0
Benefits: $0
Total compensation: $213,717
Hire date: 2021-11-22
Employment type: Full-Time
Pay grade: 14
Union / bargaining unit: Manager
Pay basis: Hourly
Full-time equivalent (FTE): 1
Work county: Ramsey

Source-specific fields

Active on June 30, 2025: Yes
Agency Number: G38
Bargaining Unit Number: 220
Branch: Executive
Branch Code: Executive
Classified Code: Unclassified
Classified Status: Unclassified
Compensation Frequency Code: Hourly

At Investment Board, David Velasquez serves as a Investment Officer within Public Markets. They have served since 2021 (about 4 years), working full-time. Their 2025 pay totaled $213,717. Their bargaining unit is Manager.

Mercy Ndungu

Investment Officer/Investment Board

2024 total comp

$204,371

Sub-department: Private Markets
Base pay: $199,263
Overtime: $0
Other pay: $5,108
Benefits: $0
Total compensation: $204,371
Hire date: 2015-02-02
Employment type: Full-Time
Pay grade: 14
Union / bargaining unit: Manager
Pay basis: Hourly
Full-time equivalent (FTE): 1
Work county: Ramsey

Source-specific fields

Active on June 30, 2024: Yes
Agency Number: G38
Bargaining Unit Number: 220
Branch: Executive
Branch Code: Executive
Classified Code: Unclassified
Classified Status: Unclassified
Compensation Frequency Code: Hourly

Mercy Ndungu is a Investment Officer at Investment Board within Private Markets. Hired in 2015, they have about 9 years of service, working full-time. 2024 total compensation came to $204,371. Union affiliation: Manager.

Aaron Griga

Investment Officer/Investment Board

2024 total comp

$202,939

Sub-department: Public Markets
Base pay: $202,939
Overtime: $0
Other pay: $0
Benefits: $0
Total compensation: $202,939
Hire date: 2011-04-04
Employment type: Full-Time
Pay grade: 14
Union / bargaining unit: Manager
Pay basis: Hourly
Full-time equivalent (FTE): 1
Work county: Ramsey

Source-specific fields

Active on June 30, 2024: Yes
Agency Number: G38
Bargaining Unit Number: 220
Branch: Executive
Branch Code: Executive
Classified Code: Unclassified
Classified Status: Unclassified
Compensation Frequency Code: Hourly

Aaron Griga is a Investment Officer at Investment Board within Public Markets. Hired in 2011, they have about 13 years of service, working full-time. 2024 total compensation came to $202,939. Union affiliation: Manager.