Treasurer Beth Pearce will not seek re-election after six terms

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Treasurer Beth Pearce will not seek re-election after six terms

Wed, 05/04/2022 - 2:24pm -- tim

Treasurer Beth Pearce makes a point at the Emergency Board meeting in July 2019. VermontBiz photo.

Vermont Business Magazine Today Vermont State Treasurer Beth Pearce announced she will not seek re-election and will be retiring in January 2023, after six terms in office. She cited recent health-related issues in making this decision. In her time as Treasurer, Pearce served as President of the National Association of State Treasurers (NAST), President of the National Association of State Auditors, Comptrollers and Treasurers (NASACT), and as Chair of the Government Accounting Standards Advisory Council (GASAC). She made her statement at a press conference in Montpelier on Wednesday morning.

Treasurer Beth Pearce Statement

Thank you all for coming out to the Pavilion today. I would like to start by saying that it has been my greatest personal and professional honor to serve the people of Vermont for the past 19 years, first as Deputy Treasurer, and since 2011, as your State Treasurer. This service has been the highpoint of my more than 45 years in government finance. After much consideration and having received some health news this past month, I have decided not to seek re-election.

During my tenure as State Treasurer, I have worked diligently to ensure that the work that we do in the Treasurer’s Office is not just numbers on spreadsheets, but a reflection of our commitment of service to, and respect for, everyone in Vermont. I am so proud of this office and what we have accomplished over the past decade. Some have described our day-to-day operations as the State’s banker, pension and unclaimed property administrator, as mundane, but it has truly been my passion. We have worked tirelessly to advance other policy initiatives from an economic and financial perspective, such as clean water, affordable housing, the VermontABLE program, local investments, and of course pension reform and the preservation of the defined benefit system for Vermont’s teachers, state and municipal employees.

I have the best staff in state government, and I would like to take a moment to thank them for their ongoing dedication to public service. I know that they will support the next Treasurer in exemplary manner. Vermont is a special place, and I will deeply miss serving as your State Treasurer.

Governor Scott, at podium, swears in Treasurer Beth Pearce and Secretary of State Jim Condos on the State House steps on January 7, 2021. Condos also is stepping down after this term. Lieutenant Governor Molly Gray, who is running for the open congressional seat, is at the far left. Courtesy photo.

STATEMENT FROM GOVERNOR PHIL SCOTT ON TREASURER BETH PEARCE

Governor Phil Scott today issued the following statement following Treasurer Pearce’s announcement that she will not seek another term:

“Treasurer Pearce has been a steadfast public servant, deeply committed to Vermont. For the past twelve years, serving together as statewide officials, I have enjoyed our collaborate relationship. Regardless of our differences, we have worked together well on several issues.

“I know Beth will continue to serve Vermonters well for the remainder of her term, and I wish her a speedy recovery.”

Statement of Lieutenant Governor Molly Gray on Treasurer Beth Pearce’s Service to Vermont 

This morning, Lieutenant Governor Molly Gray released the following statement in response to Treasurer Beth Pearce’s announcement that she will not seek re-election in 2022: 

“After decades of public service, it is hard to imagine not having Treasurer Pearce leading the state with her expertise in government finance.  

"With nearly 20 years of service to Vermont, she has served as Deputy Treasurer, then Treasurer, and is only the third woman to hold the office. Through her entire career she has remained an inspiration, a mentor, and steadfast champion for women in leadership at all levels of government. I am grateful for her mentorship and am honored to serve statewide with her.  

"The second gentleman and I wish Treasurer Pearce a speedy recovery, as well as a heartfelt congratulations on a career of public serve.”   

Beth Pearce Bio

Treasurer Pearce is the current President of the National Association of State Treasurers (NAST). She previously served as the Vice President. She also serves as the Secretary of the National Association of State Auditors, Comptrollers and Treasurers (NASACT). In 2015, she received NASACT's President's Award for national leadership in state government transparency. She is the Past President of the National Association of Unclaimed Property Administrators (NAUPA) and is one of two state advisors to the Uniform Law Commission on Unclaimed Property. NAUPA recognized her service in 2013 and awarded her the Presidential Distinguished Service Award. NAST also recognized her service in 2013 with the Harlan Boyles-Edward T. Alter Distinguished Service Award.

She was selected as one of ten notable women featured by The Bond Buyer in a special supplement on trailblazing women in public finance.

Prior to joining the Vermont State Treasurer's Office, Pearce served as Deputy Treasurer for Cash Management at the Massachusetts State Treasurer's Office from 1999-2003; Deputy Comptroller for the Town of Greenburgh, New York; and as the Accounting Manager and Financial Operations Manager for the Town of West Hartford, Connecticut. In addition, she has served as a fiscal officer with the Massachusetts Department of Social Services and as a project director for the Massachusetts Executive Office of Human Services. 

Education

Treasurer Pearce has a B.A. from the University of New Hampshire. She has prepared financial reports that have received the Certificate of Achievement for Excellence in Financial Reporting by the Government Finance Officers Association.

She resides in Barre, Vermont.