Nappier to seek fifth term as Connecticut treasurer

Denise L. Nappier, the state treasurer since 1999 and the first African-American woman elected to statewide office in Connecticut, announced late Monday afternoon that she would seek a fifth term.

Nappier, 63, a Hartford Democrat, made a low-key announcement about the 2014 elections through a two-page statement emailed to the news media.

“I’ve worked hard to put our state’s financial house in order, and to make sure we keep our commitments — including funding of the state’s pension — promises to our employees and teachers, and managing Connecticut’s debt in a prudent way to save taxpayers hundreds of millions of dollars,” Nappier wrote. “We still are not at full recovery, but we can now see a path forward.”

The treasurer’s office oversees the sale of government bonds, manages the state’s cash flow, and controls investments of its pension funds.

Nappier spearheaded an initiative in 2007 to bolster the state’s pension fund for teachers, securing legislative approval to borrow about $2.3 billion for the retirement program.

Other accomplishments cited by Nappier in her re-election announcement include:

  • More than $830 million saved through management of state bond during her tenure.
  • About $13.7 billion in earnings for the state’s pension funds since 2001.
  • And more than $450 million returned to Connecticut residents and businesses through the unclaimed property fund.

“My decisions to seek re-election as treasurer is informed by the belief that the taxpayers will be best served with someone in this position who has the proven experience and a track record of results,” Nappier added.

“Treasurer Nappier has helped generate tremendous returns on our pension fund investments and issued state bonds in a cost-effective manner,” Democratic State Chairwoman Nancy DiNardo wrote in a statement late Monday. “In addition to her role as the state’s treasurer, she is known for her commitment to financial literacy education, and to making college more affordable and accessible through the Connecticut Higher Education Trust.”

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