Michael serves as trustee and custodian of Iowa’s state pension funds and invests over three billion dollars of state operating funds. Treasurer Fitzgerald also oversees many consumer programs. The Great Iowa Treasure Hunt, his unclaimed property program, has returned over $275 million in lost property to the rightful owners. He is the administrator for Iowa’s 529 College Savings Programs, including College Savings Iowa, which now has over $5 billion invested and has distributed over $3 billion to help families pay for higher education. He also serves as administrator for IAble, a tax-advantaged savings program that helps Iowans to save for disability-related expenses.
Michael’s mission as state treasurer is to “Keep the Money Safe.” That mission is accomplished through a variety of programs which serve to increase the interest earned for Iowans and provide services to people inside and outside of Iowa.
Common Sense Approach to Government
As a state treasurer, Michael understands the responsibility entrusted to him. Raised on an Iowa farm, he understands the values of hardworking families. He leads the office with professionalism, efficiency and fiscal responsibility. Under his leadership, Iowa can boast it is one of the few Triple A rated states by all three rating agencies. He works every day to ensure Iowa remains fiscally sound.
Helping People Save
Celebrating 20 years helping families save for college, the College Savings Iowa 529 Plan was created under Michael’s leadership. The program tells a compelling story, with over $5 billion invested, but more importantly over $3 billion used to pay for qualified expenses. Michael stays committed to helping families save by creating the IAble program for persons with disabilities and continues to advocate for a retirement savings plan for Iowans.
The Great Iowa Treasure Hunt
One of the first initiatives Michael tackled in his first year was to strengthen the unclaimed property program and create the Great Iowa Treasure Hunt, focusing on returning property to the rightful owners. Through this program, he has returned over $275 million in unclaimed money to current and past Iowans. His current initiative is to get savings bonds being held by the federal government back into Iowans’ hands.