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A lot of people ask, what does the Treasurer do?

Treasurer Deb Goldberg is responsible for running a large organization with approximately 800 employees, overseeing fourteen diverse departments and agencies within Massachusetts state government.

As Treasurer, Deb’s goal is to ensure economic stability, economic security, and economic opportunity for every Massachusetts resident.

The Treasurer’s office maintains the state’s daily cash flows, manages bonding and debt, regulates the sale and use of alcoholic beverages, provides funding to improve water quality and infrastructure, protects and returns unclaimed property to Massachusetts citizens, provides financial literacy education and veterans benefits, while also helping Massachusetts employees save for a secure retirement.

The Treasurer is also responsible for overseeing the Massachusetts State Lottery, and chairing both the Massachusetts School Building Authority and the Pension Reserves Investment Trust Fund, which represents the $72 billion pension fund for state employees, teachers and retirees.

Deb’s business background and finance skills have proven to be assets that enable her to get the job done. She applies commonsense business solutions, implements innovative ideas, and designs and fosters public/private partnerships to improve the services provided by the Treasury. Deb’s programs break down barriers and create opportunity for people all across the state.

Promises Made. Promises Kept.

Deb launched the Office of Economic Empowerment, the first-of-its-kind in the country, created to tackle issues such as unequal wages, college savings and financial literacy in Massachusetts.

Wage Equality

When Deb talks about creating a level playing field, she knows where to begin. Wage equality. This is not just a women’s issue. It is a family issue and an economic issue for everyone in our state. Whether it’s in the public sector, nonprofit world or private businesses – workplaces that have equal pay, family friendly human resource policies and are diverse, are more innovative, creative and more financially successful.

College Savings

Deb created a college savings plan called SeedMA for kindergarteners at no cost to taxpayers. Research shows that a kid with a college savings plan is seven times more likely to go to college. Deb’s program also supports vocational and technical training. Providing a skilled workforce will also help to keep companies growing and staying in Massachusetts, which helps our local economy and enables people to thrive. In her second term, Deb plans to expand this program to all Kindergarten students across the Commonwealth through the same type of public-private partnerships that have made the program so successful.

Financial Literacy

Deb convened a state-wide financial literacy task force of 32 experts from all over the state. By expanding the Financial Literacy Trust Fund and working collaboratively with the private sector, she and her team have already instituted 19 of its 22 recommendations, resulting in a robust, state-wide financial literacy program. She will continue to make sure that people never again fall victim to a sub-prime mortgage crisis or go into serious debt to pay for college.

Use the Leverage of the Pension Fund

Fight for greater diversity on corporate boards and executive positions

Deb has leveraged the Treasurer’s office and the pension fund to fight for greater diversity on corporate boards and executive positions. It has been proven that corporations that have more women, people of color, immigrants, and members of the LGBTQ community are more innovative, creative, and very importantly more profitable. Deb knows from her private sector experience that companies that invest in their people and reflect the vibrancy of our communities, are far more successful, resulting in a better economy for everyone.

Deb has lead by example having the most diverse office in state government. She will continue to find ways for the Treasurer’s office to promote diversity and equal opportunity both in government and the private sector.

Advance Shareholder Engagement and Ensure Responsible Corporate Governance Strategies for Pension Fund’s Investments

Deb believes that sound corporate governance practices not only play a significant role in maximizing investment returns for our pension fund, but also have a profound cultural and societal impact. As the Chairwoman of the Commonwealth’s PRIM Board, Deb has become a national leader in utilizing the power and leverage of our public pension funds to effectuate change.

Study after study demonstrated that Shareholder Engagement leads to better corporate policies, more sustainable business practices, and greater transparency and accountability. When utilized effectively, Shareholder Engagement can be a powerful tool to engage corporations on the environmental and social impacts of their operations, from climate change, to human rights and labor, wage equality, and access to affordable health care.

Deb supports the growing view among investment professionals that sustainability or environmental, social and governance (ESG) factors can create risks to portfolio investments. These factors can and should be weighed when making investment decisions in order to ensure sustainable long-term success of our public pension system.

Deb has lead by example having the most diverse office in state government. She will continue to find ways for the Treasurer’s office to promote diversity and equal opportunity both in government and the private sector.