PRESS RELEASE
Core Responsibilities of the Missouri State Treasurer’s Office
FOR IMMEDIATE RELEASE
Contact: Tianna Brooks, 573-751-5390
JEFFERSON CITY, MO – Missouri State Treasurer Vivek Malek serves as the state’s chief banking and investment officer, responsible for safeguarding Missouri’s financial resources and administering programs that benefit individuals, families, businesses, and communities across the state.
As custodian of state funds and funds received from the United States government, the Treasurer’s Office oversees Missouri’s banking services and manages the state’s investment portfolio in accordance with state law. Funds not needed for current operating expenses are invested through authorized financial instruments to ensure safety, liquidity, and return. The Treasurer prepares, maintains, and adheres to a written investment policy that includes an asset allocation plan limiting the amount of state funds invested in each authorized category.
The Treasurer’s Office also safeguards and returns Missourians’ unclaimed property. Each year, financial institutions, businesses, government agencies, and other organizations transfer millions of dollars in abandoned or unclaimed assets to the state. Currently, the office holds more than $1.5 billion in unclaimed property. Through public outreach and awareness initiatives, the Treasurer works to reunite individuals and businesses with property that rightfully belongs to them.
Moreover, the Treasurer administers several key programs that promote long term financial stability and economic growth, including the Education Savings Program (MOST 529), Missouri Empowerment Scholarship Accounts Program (MOScholars), the Missouri Achieving a Better Life Experience Program (MOABLE), and MOBUCK$, a linked deposit program supporting small businesses and farmers.
Beyond these responsibilities, Treasurer Malek serves on the Missouri Housing Development Commission, supporting efforts to expand affordable housing opportunities across the state. He also serves as a member of the Missouri State Employees’ Retirement System (MOSERS) Board of Trustees, contributing to the oversight of retirement benefits for Missouri’s public workforce.
For more information about the Missouri State Treasurer’s Office, visit www.treasurer.mo.gov
