RALEIGH – Cary’s Ron Elmer, a certified public accountant and financial planner, filed paperwork Wednesday to run for state treasurer. Janet Cowell, the Democrat and current treasurer, announced in October that she will not seek re-election.
Elmer, who announced he would run in October, said via a news release that he will focus on helping middle-class and working families.
“I am a professional money manager, not a professional politician,” said Elmer in the release. “I will work to save the state more than $100 million in fees paid to Wall Street Investment Bankers the first year I’m in office by creating a new, in-house equity management division.”
The state treasurer’s office, which as a Council of State office is elected separately from the governor, manages more than $90 billion in investment funds for the state, including the state employees and teachers retirement fund, the state health plan and the local government commission.
The state treasurer manages more than $90 billion in investment funds for the State of North Carolina, including the State Employees & Teachers Retirement Fund, of which more than 900,000 North Carolinians are a member. The treasurer also administers the State Health Plan, the Local Government Commission, and the 401(k) and 457 plans for public employees. It also administers NC Cash, the state’s unclaimed property database.
Elmer holds a bachelor’s degree in finance from the University of Oklahoma and an MBA in finance and accounting from New York University, according to his campaign. He is a certified financial adviser in investment management and a certified financial planner.
Elmer is the only announced candidate on the Democratic side, but former Republican legislator and Commerce Department official Dale Folwell announced an entry into the race Tuesday.