The Office of the Treasurer (OTT) was established following the adoption of the Fundamental Orders of Connecticut in 1638. As described in Article Fourth, Section 22 of the Constitution of the State of Connecticut, the Treasurer "shall receive all moneys belonging to the State" and disburse the same only as may be directed by law. The Treasurer is elected by the people of Connecticut to a four year term.
The Treasurer is the chief elected fiscal officer for State
government, overseeing a wide range of activities regarding the
prudent management of State funds. This includes the administration of a portfolio of pension assets for more than 190,000 beneficiaries and plan participants and a short-term investment fund utilized by agencies of municipal and state government.
Chapter 32 (Section 3-11 through Section 3-76t) of the Connecticut General Statutes outlines the authority and responsibilities of the Office of State Treasurer, including the oversight of state funds, management of the Connecticut Retirement Plans and Trust Funds, the role of the Investment Advisory Council, the issuance of state debt, the establishment of the Connecticut Higher Education Trust (CHET) and the receipt and oversight of unclaimed assets. Sec 31-349 of the Connecticut General Statutes outlines the responsibilities of the Treasurer's Office in the Second Injury Fund.
The Treasurer is also a member, or ex-officio member, of more than a dozen State boards and commissions.