Vermont Treasurer

Vermont Treasurer
General information
Office Type:	Partisan
Office website:	Official Link
Compensation:	$127,546
2025 FY Budget:	$6,326,908
Term limits:	None
Structure
Length of term:	2 years
Selection Method:	Elected
Current Officeholder
Vermont Treasurer Michael Pieciak Democratic Party Assumed office: January 5, 2023
Elections
Next election:	November 3, 2026
Last election:	November 5, 2024
Other Vermont Executive Offices
Governor • Lieutenant Governor • Secretary of State • Attorney General • Treasurer • Auditor • Superintendent of Education • Agriculture Commissioner • Insurance Commissioner • Natural Resources Commissioner • Labor Commissioner • Public Service Board

The Treasurer of Vermont is an elected executive position in the Vermont state government. As the state's banker and chief investment officer, the treasurer is accountable for the receipt and disbursement of public funds, short and long-term debt management, investment of state funds, administration of three retirement systems and pension funds, collecting and returning unclaimed financial property to rightful owners, improving the financial literacy of Vermonters, and advising state policymakers on various fiscal and policy issues.

Current officeholder

The current Vermont Treasurer is Michael Pieciak (D). Pieciak assumed office in 2023.

Authority

The Vermont Treasurer's office is established in the Vermont Constitution. Chapter 2, Section 43 describes the officers to be elected biennially.

Chapter 2, Section 43:

Biennial Elections The Governor, Lieutenant-Governor, Treasurer, Secretary of State, Auditor of Accounts, Senators, Town Representatives, Assistant Judges of the County Court, Sheriffs, High Bailiffs, State's Attorneys, Judges of Probate and Justices of the Peace, shall be elected biennially on the first Tuesday next after the first Monday of November, beginning in A.D. 1914.

Qualifications

Note: Ballotpedia's state executive officials project researches the constitutional or statutory text that establishes the requirements necessary to qualify for a state executive office. That information for the Vermont Treasurer has not yet been added. After extensive research, we were unable to identify any relevant information on state official websites. If you have any additional information about this office for inclusion on this section and/or page, please email us.

Elections

The treasurer is elected every two years, on the first Tuesday following the first Monday in November.

2024

See also: Vermont Treasurer election, 2024

General election

General election for Vermont Treasurer

Incumbent Michael Pieciak defeated Joshua Bechhoefer in the general election for Vermont Treasurer on November 5, 2024.

		Candidate	%	Votes
✔		Michael Pieciak (D)	60.8	211,134
		Joshua Bechhoefer (R)	39.1	135,763
		Other/Write-in votes	0.1	415

---

	Incumbents are bolded and underlined. The results have been certified. Source	Total votes: 347,312
= candidate completed the Ballotpedia Candidate Connection survey.
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Withdrawn or disqualified candidates

• Tim Maciel (Vermont Progressive Party)

Democratic primary election

Democratic primary for Vermont Treasurer

Incumbent Michael Pieciak advanced from the Democratic primary for Vermont Treasurer on August 13, 2024.

		Candidate	%	Votes
✔		Michael Pieciak	99.5	45,358
		Other/Write-in votes	0.5	221

---

	Incumbents are bolded and underlined. The results have been certified. Source	Total votes: 45,579
= candidate completed the Ballotpedia Candidate Connection survey.
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Republican primary election

Republican primary for Vermont Treasurer

Joshua Bechhoefer advanced from the Republican primary for Vermont Treasurer on August 13, 2024.

		Candidate	%	Votes
✔		Joshua Bechhoefer	97.3	19,286
		Other/Write-in votes	2.7	542

---

	There were no incumbents in this race. The results have been certified. Source	Total votes: 19,828
= candidate completed the Ballotpedia Candidate Connection survey.
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Withdrawn or disqualified candidates

• H. Brooke Paige (R)

Vermont Progressive Party primary election

Vermont Progressive Party primary for Vermont Treasurer

Tim Maciel advanced from the Vermont Progressive Party primary for Vermont Treasurer on August 13, 2024.

		Candidate	%	Votes
✔		Tim Maciel	87.2	285
		Other/Write-in votes	12.8	42

---

	There were no incumbents in this race. The results have been certified. Source	Total votes: 327
= candidate completed the Ballotpedia Candidate Connection survey.
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2022

See also: Vermont Treasurer election, 2022

General election

General election for Vermont Treasurer

Michael Pieciak defeated H. Brooke Paige in the general election for Vermont Treasurer on November 8, 2022.

		Candidate	%	Votes
✔		Michael Pieciak (D)	65.6	182,571
		H. Brooke Paige (R)	34.3	95,440
		Other/Write-in votes	0.1	347

---

	There were no incumbents in this race. The results have been certified. Source	Total votes: 278,358
= candidate completed the Ballotpedia Candidate Connection survey.
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Withdrawn or disqualified candidates

• Don Schramm (Vermont Progressive Party)

Democratic primary election

Democratic primary for Vermont Treasurer

Michael Pieciak advanced from the Democratic primary for Vermont Treasurer on August 9, 2022.

		Candidate	%	Votes
✔		Michael Pieciak	99.3	81,428
		Other/Write-in votes	0.7	570

---

	There were no incumbents in this race. The results have been certified. Source	Total votes: 81,998
= candidate completed the Ballotpedia Candidate Connection survey.
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Republican primary election

Republican primary for Vermont Treasurer

H. Brooke Paige advanced from the Republican primary for Vermont Treasurer on August 9, 2022.

		Candidate	%	Votes
✔		H. Brooke Paige	97.0	22,482
		Other/Write-in votes	3.0	698

---

	There were no incumbents in this race. The results have been certified. Source	Total votes: 23,180
= candidate completed the Ballotpedia Candidate Connection survey.
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Vermont Progressive Party primary election

Vermont Progressive Party primary for Vermont Treasurer

Don Schramm advanced from the Vermont Progressive Party primary for Vermont Treasurer on August 9, 2022.

		Candidate	%	Votes
✔	Submit photo	Don Schramm	94.8	475
		Other/Write-in votes	5.2	26

---

	There were no incumbents in this race. The results have been certified. Source	Total votes: 501
= candidate completed the Ballotpedia Candidate Connection survey.
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2020

See also: Vermont Treasurer election, 2020

General election

General election for Vermont Treasurer

Incumbent Elizabeth Pearce defeated Carolyn Whitney Branagan, Alex Wright, and Cris Ericson in the general election for Vermont Treasurer on November 3, 2020.

		Candidate	%	Votes
✔		Elizabeth Pearce (D)	57.4	197,255
		Carolyn Whitney Branagan (R)	33.2	114,177
	Submit photo	Alex Wright (Independent)	5.2	17,939
		Cris Ericson (Vermont Progressive Party)	4.1	14,142
		Other/Write-in votes	0.1	332

---

	Incumbents are bolded and underlined. The results have been certified. Source	Total votes: 343,845
= candidate completed the Ballotpedia Candidate Connection survey.
If you are a candidate and would like to tell readers and voters more about why they should vote for you, complete the Ballotpedia Candidate Connection Survey.
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Democratic primary election

Democratic primary for Vermont Treasurer

Incumbent Elizabeth Pearce advanced from the Democratic primary for Vermont Treasurer on August 11, 2020.

		Candidate	%	Votes
✔		Elizabeth Pearce	99.6	96,088
		Other/Write-in votes	0.4	392

---

	Incumbents are bolded and underlined. The results have been certified. Source	Total votes: 96,480
= candidate completed the Ballotpedia Candidate Connection survey.
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Republican primary election

Republican primary for Vermont Treasurer

Carolyn Whitney Branagan advanced from the Republican primary for Vermont Treasurer on August 11, 2020.

		Candidate	%	Votes
✔		Carolyn Whitney Branagan	97.1	41,023
		Other/Write-in votes	2.9	1,222

---

	There were no incumbents in this race. The results have been certified. Source	Total votes: 42,245
= candidate completed the Ballotpedia Candidate Connection survey.
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Withdrawn or disqualified candidates

• H. Brooke Paige (R)

Vermont Progressive Party primary election

Vermont Progressive Party primary for Vermont Treasurer

Cris Ericson advanced from the Vermont Progressive Party primary for Vermont Treasurer on August 11, 2020.

		Candidate	%	Votes
✔		Cris Ericson	58.1	411
		Other/Write-in votes	41.9	297

---

	There were no incumbents in this race. The results have been certified. Source	Total votes: 708
= candidate completed the Ballotpedia Candidate Connection survey.
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2018

See also: Vermont Treasurer election, 2018

General election

General election for Vermont Treasurer

Incumbent Elizabeth Pearce defeated Richard Morton in the general election for Vermont Treasurer on November 6, 2018.

		Candidate	%	Votes
✔		Elizabeth Pearce (D)	67.6	179,451
		Richard Morton (R)	32.3	85,824
		Other/Write-in votes	0.1	161

---

	Incumbents are bolded and underlined. The results have been certified. Source	Total votes: 265,436
= candidate completed the Ballotpedia Candidate Connection survey.
If you are a candidate and would like to tell readers and voters more about why they should vote for you, complete the Ballotpedia Candidate Connection Survey.
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Withdrawn or disqualified candidates

• H. Brooke Paige (R)

Democratic primary election

Democratic primary for Vermont Treasurer

Incumbent Elizabeth Pearce advanced from the Democratic primary for Vermont Treasurer on August 14, 2018.

		Candidate	%	Votes
✔		Elizabeth Pearce	100.0	58,379

---

	Incumbents are bolded and underlined. The results have been certified. Source	Total votes: 58,379
= candidate completed the Ballotpedia Candidate Connection survey.
If you are a candidate and would like to tell readers and voters more about why they should vote for you, complete the Ballotpedia Candidate Connection Survey.
Do you want a spreadsheet of this type of data? Contact our sales team.

Republican primary election

Republican primary for Vermont Treasurer

H. Brooke Paige advanced from the Republican primary for Vermont Treasurer on August 14, 2018.

		Candidate	%	Votes
✔		H. Brooke Paige	100.0	20,313

---

	There were no incumbents in this race. The results have been certified. Source	Total votes: 20,313
= candidate completed the Ballotpedia Candidate Connection survey.
If you are a candidate and would like to tell readers and voters more about why they should vote for you, complete the Ballotpedia Candidate Connection Survey.
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2016

See also: Vermont Treasurer election, 2016

The general election for treasurer was held on November 8, 2016.

Incumbent Elizabeth Pearce defeated Don Schramm and Murray Ngoima in the Vermont treasurer election.

Vermont Treasurer, 2016
Party		Candidate	Vote %	Votes
	Democratic	Elizabeth Pearce Incumbent	82.50%	234,566
	Progressive Party	Don Schramm	13.12%	37,301
	Liberty Union Party	Murray Ngoima	4.38%	12,453
Total Votes				284,320
Source: Vermont Secretary of State

Full history

2014

See also: Vermont down ballot state executive elections, 2014

Democratic incumbent Elizabeth Pearce won re-election on November 4, 2014.

Vermont Treasurer, 2014
Party		Candidate	Vote %	Votes
	Democratic	Beth Pearce Incumbent	74.5%	124,925
	Progressive	Don Schramm	17.4%	29,120
	Liberty Union	Murray Ngoima	8.1%	13,540
Total Votes				167,585
Election results via New York Times

To view the electoral history dating back to 2000 for the office of Vermont Treasurer, click [show] to expand the section.

2012 See also: Vermont down ballot state executive elections, 2012 Elizabeth Pearce was elected Vermont Treasurer in 2012. She ran unopposed in the August 28 Democratic primary. Republican Wendy Wilton and Progressive Party candidate Don Schramm were also unopposed in their respective parties' primaries. The three candidates, in addition to Liberty Union Party candidate Jessica Diamondstone, ran in the general election on November 6, 2012. Pearce defeated her challengers to win re-election in the general election. Vermont Treasurer General Election, 2012 Party Candidate Vote % Votes      Democratic Elizabeth Pearce Incumbent 52.3% 147,700      Republican Wendy Wilton 40.7% 114,947      Progressive Don Schramm 4.4% 12,497      Liberty Union Jessica Diamondstone 2.5% 6,939      Independent Write-in 0.1% 198 Total Votes 282,281 Election results via Vermont Secretary of State 2010 On November 2, 2010, Jeb Spaulding won re-election to the office of Vermont Treasurer. He defeated Don Schramm (Progressive) and Murray Ngoima (Liberty Union) in the general election. Vermont Treasurer, 2010 Party Candidate Vote % Votes      Democratic/Republican Jeb Spaulding Incumbent 90% 204,048      Progressive Don Schramm 7.6% 17,332      Liberty Union Murray Ngoima 2.1% 4,832      Write-In Various 0.2% 492 Total Votes 226,704 Election results via Vermont Secretary of State. 2008 On November 4, 2008, Jeb Spaulding won re-election to the office of Vermont Treasurer. He defeated Don Schramm (Progressive) and Murray Ngoima (Liberty Union) in the general election. Vermont Treasurer, 2008 Party Candidate Vote % Votes      Democratic/Republican Jeb Spaulding Incumbent 90% 267,338      Progressive Don Schramm 7.7% 22,811      Liberty Union Murray Ngoima 2.2% 6,423      Write-In Various 0.2% 506 Total Votes 297,078 Election results via Vermont Secretary of State. 2006 On November 7, 2006, Jeb Spaulding won re-election to the office of Vermont Treasurer. He defeated V. Murray Ngoima (Liberty Union) in the general election. Vermont Treasurer, 2006 Party Candidate Vote % Votes      Democratic/Republican Jeb Spaulding Incumbent 94% 229,952      Liberty Union V. Murray Ngoima 5.7% 14,018      Write-In Various 0.2% 530 Total Votes 244,500 Election results via Vermont Secretary of State. 2004 On November 2, 2004, Jeb Spaulding won re-election to the office of Vermont Treasurer. He ran unopposed in the general election. Vermont Treasurer, 2004 Party Candidate Vote % Votes      Democratic/Republican Jeb Spaulding Incumbent 99.4% 273,705      Write-In Various 0.6% 1,537 Total Votes 275,242 Election results via Vermont Secretary of State. 2002 On November 5, 2002, Jeb Spaulding won election to the office of Vermont Treasurer. He defeated John V. LaBarge (R), Teresa Bouchard (Vermont Grassroots) and Jerry Levy (Liberty Union) in the general election. Vermont Treasurer, 2002 Party Candidate Vote % Votes      Democratic Jeb Spaulding 57.2% 127,459      Republican John V. LaBarge 36% 80,229      Vermont Grassroots Teresa Bouchard 4.8% 10,757      Liberty Union Jerry Levy 1.9% 4,199      Write-In Various 0.1% 154 Total Votes 222,798 Election results via Vermont Secretary of State. 2000 On November 7, 2000, James H. Douglas won re-election to the office of Vermont Treasurer. He defeated Claude Delucia (Progressive) in the general election. Vermont Treasurer, 2000 Party Candidate Vote % Votes      Republican/Democratic James H. Douglas Incumbent 86.1% 234,331      Progressive Claude Delucia 13.7% 37,153      Write-In Various 0.3% 694 Total Votes 272,178 Election results via Vermont Secretary of State.

Vacancies

Section 20 of the Vermont Constitution, grants the governor the power to fill a vacancy in the office by appointment. The appointee shall serve until the next regularly scheduled election.

Duties

As of January 2021, the treasurer had the following stated duties:

“

Investment of State funds. Issuing all State bonds authorized by the General Assembly. Serving as the central bank for State agencies. Management of the State’s cash balances, processing of checks, and the reconciliation of payroll and vendor checks. Safeguarding and return of unclaimed or abandoned financial property, which is held in trust by the State until the rightful owner can be located. Administration of three major pension plans, the deferred compensation plan, and the defined contribution plan for State employees, teachers, and participating municipalities.

”

Divisions

As of January 27, 2021, divisions within the treasurer's office included:

• Financial Literacy & Outreach
• Legal
• Information Technology
• Retirement Operations

State budget

See also: Vermont state budget and finances

The budget for the State Treasurer in Fiscal Year 2025 was $6,326,908.

Compensation

See also: Compensation of state executive officers

The treasurer, along with the rest of Vermont's elected executives, is legally entitled to an annual salary in accordance with Title 32, Chapter 15 of the Vermont Statutes (32 V.S.A. § 1003). Taking into account value adjustments, the statute contains real compensation figures for the previous and current year only.

2023

In 2023, the officer's salary was $127,546, according to the Council of State Governments.

2022

In 2022, the officer's salary was $121,576, according to the Council of State Governments.

2021

In 2021, the treasurer received a salary of $116,730, according to the Council of State Governments.

2020

In 2020, the treasurer received a salary of $116,729 according to the Council of State Governments.

2019

In 2019, the treasurer received a salary of $109,449 according to the Council of State Governments.

2018

In 2018, the treasurer received a salary of $109,449 according to the Council of State Governments.

2017

In 2017, the treasurer received a salary of $105,290 according to the Council of State Governments.

2016

In 2016, the treasurer received a salary of $96,949 according to the Council of State Governments.

2015

In 2015, the treasurer received a salary of $95,285 according to the Council of State Governments.

2014

In 2014, the treasurer was paid an estimated $92,269 according to the Council of State Governments.

2013

In 2013, the treasurer was paid an estimated $90,376 according to the Council of State Governments.

2012

In 2012, the treasurer was paid an estimated $90,376 according to the Council of State Governments.

2010

In 2010, the treasurer was paid an estimated $90,376 according to the Council of State Governments.

Historical officeholders

Note: Ballotpedia's state executive officials project researches state official websites for chronological lists of historical officeholders; information for the Vermont Treasurer has not yet been added because the information was unavailable on the relevant state official websites, or we are currently in the process of formatting the list for this office. If you have any additional information about this office for inclusion on this section and/or page, please email us.

Recent news

The link below is to the most recent stories in a Google news search for the terms Vermont State Treasurer. These results are automatically generated from Google. Ballotpedia does not curate or endorse these articles.

Vermont Treasurer - Google News

Contact information

Office of the State Treasurer
109 State Street
Montpelier, VT 05609
Phone: (802) 828-2301

External links

Suggest a link

• Vermont Office of the State Treasurer