California State Treasurer'S Office

The California State Treasurer’s Office has broad responsibilities and authority in the areas of investment and finance. In addition to being the State's lead asset manager, banker and financier, the treasurer serves as chairperson or a member of numerous state boards, authorities, and commissions. Key responsibilities include: -Issuing billions of dollars of bonds annually on behalf of the State of California and its agencies to finance critical infrastructure and public works projects throughout the state. - Managing the cash liquidity needs of all state agencies and departments. - Investing idle funds for the state and local governments to help them maximize returns. - Serving on the boards of the California Public Employees' Retirement System (CalPERS) and California State Teachers' Retirement System (CalSTRS). The organizations are the largest and second-largest public pension funds in the United States and collectively manage more than three-quarters of a trillion dollars. - Serving as chair of agencies that help finance a variety of projects, including pollution and water cleanup, renewable energy, hospitals, schools, and low-income housing. - Serving as chair of several savings programs for individuals. The programs enable children and families to save for college and post-secondary education, workers to save for retirement, and people with disabilities to save without jeopardizing public benefits eligibility.