VERMONT BETH PEARCE STATE TREASURER 109 State Street, 4th !oor Montpelier, VT 05609-6200 Tel: 802-828-1452 Fax: 802-828-2772 Email: treasurerso"[email protected] Website: www.VermontTreasurer.gov Selection Method: Constitutional— Elected by the People Term Length: Two Years Term Limit: None Served: Since January 2011 Next Election Year: 2014 Salary: $95,000 KEY STAFF Stephen Wisloski, Deputy Treasurer 802-828-1452 stephen.wisloski@@state.vt.us JP Isabelle, Executive Assistant BIOGRAPHICAL SKETCH 802-828-1451 [email protected] Beth Pearce was appointed Vermont State Treasurer in January 2011, and won election to another two-year term in November 2012. The appointment, by Gov. Peter OFFICE OF THE TREASURER Shumlin, followed the resignation of former Treasurer Jeb Spaulding who stepped down to assume the role Total Number of Employees: 34 of secretary of administration. Size of Treasury Annual Budget: $3,800,000 Treasurer Pearce has more than 30 years experience in Size of portfolio: $4,000,000,000 government #nance at both the state and local levels. The treasurer’s o"ce is responsible for accounting for She served as Vermont’s Deputy Treasurer for more than the receipt and disbursement of all public funds, short- seven years before assuming her current role as treasurer. As deputy treasurer, she was responsible for a full range and long-term debt management, investment of state of operations including retirement administration of the funds, administration of three retirement systems and three state-wide systems for state employees, teachers pension funds, administration of the state’s unclaimed and municipal employees. She also was responsible for property program, improving the #nancial literacy of unclaimed property, accounting, budget, debt and capital Vermonters and advising state policymakers on #scal #nancing, cash management, investment of short-term and economic issues. funds in state custody and risk management. Prior to joining the Vermont State Treasurer’s O"ce, she served as deputy treasurer for cash management at the Massachusetts State Treasurer’s O"ce from 1999–2003; deputy comptroller for the town of Greenburgh, NY.; and as the accounting manager and #nancial operations manager for the town of West Hartford, Conn. In addition, she has served as a #scal o"cer with the Massachusetts Department of Social Services and as a project director for the Massachusetts Executive O"ce of Human Services. Treasurer Pearce has a B.A. from the University of New Hampshire. She has prepared #nancial reports that have received the Certi#cate of Achievement for Excellence in Financial Reporting by the Government Finance O"cers Association. She resides in Barre, Vt. 90 NATIONAL ASSOCIATION OF STATE TREASURERS ABOUT THE TREASURY ADDITIONAL ACTIVITIES Administration (5 employees): The administrative The state treasurer serves on the following boards and group provides daily operational support and sets entities: Capital Debt A%ordability Advisory Committee, the policies and long-term agenda for the o"ce of Educational and Health Buildings Finance Agency, the treasurer. Speci#c responsibilities include person- Municipal Equipment Loan Fund, State Infrastructure nel and performance management, legislative and Bank Board, Vermont Economic Development Authority, regulatory coordination, budget and policy develop- Vermont Housing Finance Agency, Vermont Indepen- ment and compliance, strategic planning and policy dent School Financing Authority, Vermont Municipal development, contract compliance, #nancial literacy Bond Bank, Vermont Municipal Employees’ Retirement and oversight of the operations of all of the divisions System, Vermont State Employees’ Retirement System, of the o"ce. Vermont State Teachers’ Retirement System, Vermont Rehabilitation Corporation, Vermont Student Assistance Treasury Operations (7 employees): This division is Corporation and the Private Activity Bond Advisory responsible for all internal #nancial support services, Committee. maintaining banking relationships, reconciling bank accounts, preparing #nancial statements, maintaining accounting records and processing all payroll, vendor and welfare checks. Investment Services (2 employees): This division manages long- and short-term investments of state funds, serves as the treasurer’s liaison with investment managers for all three retirement systems, manages the state’s long-term debt program and provides advice to the state treasurer on economic and #scal issues. Retirement Services (13 employees): This division is responsible for the administration of the state’s three retirement systems—Vermont State Employees’ Retirement System, Vermont State Teachers’ Retire- ment System, Municipal Employees’ Retirement System—and developing retirement policy. It also administers the state’s deferred compensation and de#ned contribution plans. Unclaimed Property (4 employees): This division administers the state’s unclaimed property program, uniting Vermonters with their lost #nancial property. It tracks, collects and audits transfers from the holders of unclaimed property and undertakes a variety of e%orts to publicize the names of owners of unclaimed property in an attempt to reunite them with their property. OTHER PROGRAMS Technology Services (3 employees): This division supports all information technology aspects of the treasurer’s o"ce. STATE TREASURY PROFILES 91.