While the nation awaits final results in the presidential election, three incumbent state treasurers won re-election Tuesday, with major implications for the retirements of millions of Americans.
Voters in North Carolina, Oregon and Vermont each gave their state treasurers another four-year term.
But in Pennsylvania, which was the fourth state treasurer race Pensions & Investments previewed last month, the race as of 1 p.m. EST was too close to call between incumbent Democrat Joe Torsella and Republican challenger Stacy Garrity; Ms. Garrity was ahead 53% to 44% with roughly 80% of the vote tallied.
On Wednesday afternoon, Ms. Garrity tweeted thanks to her supporters and said: "Right now there are still many outstanding votes to be counted and we are waiting patiently and hoping for the best."
Prior to the election, Ms. Garrity, a retired U.S. Army Reserve colonel, said in a statement that tackling the unfunded liabilities weighing on the $59 billion Pennsylvania Public School Employees' Retirement System, Harrisburg, would be one of her top priorities.
Mr. Torsella, who served as the U.S. representative to the United Nations for budget and management reform from 2011-2014, said if he's re-elected he would like Pennsylvania to create its own state-backed auto IRA program for private-sector workers.