Pennsylvania Treasurer Joe Torsella was unseated in his re-election bid, while incumbent treasurers in North Carolina, Oregon and Vermont each secured another term.
With election officials counting millions of mail-in ballots, the results from the Nov. 3 Pennsylvania treasurer race took a week to decide. As of Nov. 11, Republican Stacy Garrity earned 48.9% of the vote vs. Democrat Mr. Torsella's 47.7%, according to results posted on the commonwealth's website.
Ms. Garrity, a retired U.S. Army Reserve colonel, said prior to the election 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.
The Pennsylvania treasurer or a designee serves on approximately 20 boards, including the one overseeing PennPSERS.
Ms. Garrity said in the statement prior to the election that she would like to make it easier for all residents to invest "in low-fee, low-tax retirement accounts that are fully portable and controlled by individuals — not the government," while also educating citizens on the importance of saving and investing. She said she would propose a financial curriculum for Pennsylvania schools to help younger generations prepare for their futures.Meanwhile, voters in North Carolina, Oregon and Vermont each re-elected their state treasurers, with major implications for the retirements of millions of Americans.