Incumbent Pennsylvania state Treasurer Joe Torsella has been unseated in his reelection bid.
With election officials counting millions of mail-in ballots, the results from the Nov. 3 state 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. On Nov. 4 with roughly 80% of the votes counted, Ms. Garrity led by a margin of 53% to 44%.
Ms. Garrity, a retired U.S. Army Reserve colonel, thanked her supporters in a tweet Tuesday. Prior to the election, she 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.
The Pennsylvania treasurer or a designee serves on approximately 20 boards, including the one overseeing PennPSERS.
In a video posted to YouTube Tuesday, Mr. Torsella, who was elected treasurer in 2016, wished Ms. Garrity well and offered any help she might need as she prepares for her new role. "I may not be a constitutional officer of the commonwealth after January, but I will still be a taxpayer, which means I'll have a stake in Stacy's success just like every other Pennsylvanian," Mr. Torsella said.
Ms. Garrity said in a 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.