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.

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.

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.