Bill Lockyer was elected on November 7, 2006 as California’s 32nd State Treasurer and re-elected on November 2, 2010. The Treasurer is the State’s banker. It’s a bank that processes trillions of dollars in transactions every year.
The Treasurer sells California’s bonds, invests its money and manages its cash. In addition, the Treasurer manages financing authorities that help provide good-paying jobs, better schools, improved transportation, quality health care, more affordable housing and a cleaner environment. And the Treasurer handles those duties while sitting on the governing boards of the nation’s two largest public pension funds – the California Public Employees’ Retirement System and the California State Teachers’ Retirement System.
It’s a big job. Here are some of what Treasurer Lockyer has accomplished:
- Managed the State’s multi-billion dollar Pooled Money Investment Account (PMIA) through the 2007-09 recession without losing a penny of principal.
- Protected taxpayers from unjustifiably high-interest rates by winning major reforms of the way credit rating agencies grade bonds issued by states and local governments.
- Led the successful effort to keep corruption out of public pension funds and ensure investment decisions serve workers and taxpayers, not special interests and their politically-connected middlemen.
- Launched unprecedented campaign to increase the purchase of California bonds by individual investors, including radio ads and a first-of-its-kind web site that connects investors with brokers.
- Sold more bonds than any Treasurer in California history to finance critical infrastructure projects and generate thousands of jobs.
- Directed more than $1.3 billion of financial assistance to California small businesses that helped create or preserve 73,120 jobs.
- Revitalized agency that provides financial assistance to manufacturers of electric vehicles and renewable energy products, and sponsored successful legislation that makes it less expensive for schools to supply their facilities with renewable energy.
- Expanded access to health care for Californians who depend on small and rural clinics by increasing the availability of low-cost loans to build facilities and buy equipment.
- Helped families cope with rising college costs by expanding ScholarShare, California’s “529” college savings program – number of account holders increased by 55.3 percent and assets under management up by 57.5 percent.
Lockyer’s public service career has spanned more than three decades. From 1999-2006, he served as California Attorney General and fashioned one of the most impressive records of accomplishments in the office’s history. He created the nation’s most effective and sophisticated DNA forensic crime laboratory. He cracked down on Medi-Cal fraud, established the Megan’s Law website to track registered sex offenders, and recovered billions of dollars for defrauded energy ratepayers, consumers and taxpayers.
Prior to his election as Attorney General in 1998, Lockyer served 25 years in the California Legislature. He culminated his Capitol career as Senate President pro Tempore, crafting agreements to balance the state budget and make government work better for taxpayers.
Lockyer graduated from the University of California, Berkeley. Lockyer earned his law degree from McGeorge School of Law in Sacramento while serving in the State Senate. He also received a teaching credential from California State University, Hayward. He is married to Nadia Maria Lockyer and has a daughter, Lisa, and a son, Diego.