What's at Stake
In 2022 State Treasurers with oversight of over a trillion dollars of public pension funds are up for re-election and vacant State Treasurer roles responsible for hundreds of billions of dollars will be up for grabs.
Electoral Map 2022
Incumbents in Blue States
All of these Treasurers are well positioned in their general elections.
CA - Fiona Ma
CT - Shawn Wooden
DE - Colleen Davis
IL - Michael Frerichs
MA - Deb Goldberg
VT - Beth Pearce
Incumbents in Purple States
CO - Dave Young - 1st term. Won by 7% margin in 2018. He is a member of the Colorado PERA board.
NV - Zach Conine - 1st term. Won by a <1% margin in 2018, but has worked effectively to solidify his position.
Incumbents in Red States
IA - Michael Fitzgerald - State Treasurer since 1980. However, Iowa is challenging territory for any Democrat. He is the only progressive voice on IPERS.
KS - Lynn Rogers - Appointed State Treasurer who was elected in 2018 as Lt. Gov. Currently, the Democratic Governor's appointees and the Treasurer are both on the KPERS board.
Open Seats
AZ - This is a top target for a pickup.
NM - Our incumbent Treasurer is running for Auditor on his record as Treasurer in a state that is going more and more blue. The Treasurer has an ex officio seat on the New Mexico pension board.
RI - This race has a September Democratic primary that will have many candidates, and the winner is strongly favored to win the race. This Treasurer is the sole fiduicary of the state's pension board.
WI - The incumbent won by 4% in 2018.
Republican Incumbents
There are many Republican Treasurers in deeply red states. These are the three who are within striking distance. In OH and TX, it will take a strong ticket -- which seems to be emerging -- to put the Treasurers' race within reach. In Florida, the race is closer.
FL - Jimmy Patronis - 1st termer. Won by just 3%. Florida is always close.
OH - Robert Sprague - 1st termer. He won by 6% in 2018.
TX - Glenn Hegar - He won by 10% in 2018.
Public Pensions in States held by Democratic State Treasurers
State Pension State Operating Budget
CO CO PERA
1/16 fiduciaries
$52 billion $33 billion
Democratic Governor means CO State Treasurer is powerful fiduciary
NV NV PERS
advisor
$46 billion $30 billion
NV State Treasurer is an advisor to the fund
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IA IPERS
1/8 fiduciaries
$37 billion $8 billion
IA State Treasurer is sole progressive voice in the fund
KS KPERS
1/9 fiduciaries
$20 billion $28 billion
Democratic Governor means that KS State Treasurer (and former LG) is powerful fiduciary
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AZ ASRS
advisor
$41 billion $13 billion
AZ State Treasurer is an advisor to the fund.
NM NM PERA
1/12 fiduciaries
$16 billion $8 billion
Democratic Governor's reps and Secretary of State sit with State Treasurer on this board. State Treasurer is powerful fiduciary
RI ERS
1/1 fiduciaries
$9 billion $11 billion
Sole fiduciary State Treasurer is extremely influential.
WI WRS
advisor
$130 billion $45 billion ($91 billion over 2 years)
WI State Treasurer is an advisor to the pension fund. Is the chair of the school land board with $2.5 billion in assets.
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FL FRS
1/3 fiduciaries
$162 billion $48 billion (96 billion over 2 years)
Small pension board and State Treasurer role is highly powerful fiduciary.
OH OPERS
1/16 fiduciaries
$106 billion #37 billion ($74 billion over 2 years)
State Treasurer appioints a delegate to the pension board.
TX ERS
advisor
$32 billion $125 billion ($250 billion over 2 years)
TRS
advisor
$160 billion
State Treasurer is advisor to the pension fund. Has sole fiduciary power over a vast pool of state funds.