California Treasurer Fiona Ma has received an honorary doctorate from her alma mater, Rochester Institute of Technology, recognizing public service and leadership in the finance industry.
Ms. Ma, who sits on the boards of the $456.7 billion California Public Employees' Retirement System, Sacramento, and $307.2 billion California State Teachers' Retirement System, West Sacramento, received an honorary doctorate of humane letters during RIT's May 12 commencement ceremony The school awarded Ms. Ma the honorary degree "in recognition of her distinguished career in public service and leadership in finance," the school said on its website.
Prior to being elected treasurer, Ms. Ma served six years in the California Assembly.
Ms. Ma, who earned an undergraduate degree in accounting from RIT's Saunders College of Business in 1988, said in a news release that she is honored to be recognized by RIT, which "holds a special place in my heart and was critical in developing me into the person I am today."
Since she became California treasurer in 2019, Ms. Ma has also served as chairwoman of the board overseeing the $478 million CalSavers Retirement Savings Program, the Sacramento-based defined contribution plan for California workers in the private sector who do not have access to an employer-sponsored retirement plan. During her tenure, CalSavers survived court challenges by a taxpayer organization Howard Jarvis Taxpayers Association seeking to shut down CalSavers. In February 2022, the U.S. Supreme Court declined to hear the taxpayers group's case, effectively letting stand a lower court's decision dismissing the lawsuit.