Find Oregon icon; Meet Oregon icon Marcus Mariota (AP Photo/Chris Pietsch); Experience Oregon icon (mural by Casey McEneny); Play Oregon icon Find Oregon: Almanac Meet Oregon: Notable Oregonians Experience Oregon: Web Exhibits Play Oregon: Games and More

How do I...?

 

Facebook and e-mail icons Facebook Contact us

Home > State > Executive > Office of the State Treasurer > Agency Subdivisions

Office of the State Treasurer: Agency Subdivisions

The Labor and Industries Building in Salem houses subdivision offices of the Office of the State Treasurer. (Oregon State Archives Photo)

The Labor and Industries Building in Salem houses subdivision offices of the Office of the State Treasurer. (Oregon State Archives Photo)

OST home

 

Executive Division
Address: 159 State Capitol Bldg., 900 Court St. NE, Salem 97301
Phone: 503-378-4329
Contact: Darren Q. Bond, Deputy State Treasurer

 

Duties and Responsibilities: The Executive Division coordinates agencywide business services including strategic planning, internal auditing and accounting, human resource
functions, project management, procurement and communications.

 

Debt Management Division
Address: 350 Winter St. NE, Suite 100, Salem 97301-3896
Phone: 503-378-4930
Fax: 503-378-2870
Contact: Laura Lockwood-McCall, Director


Duties and Responsibilities: The Debt Management Division oversees the sale, issuance and on­going management of all state bonds, serves as a resource for debt-issuing local governments and maintains a statewide bond calendar, and serves as the state’s liaison to rating agencies and investors with regard to the state’s financial condition.


Facilities Authority, Oregon
Address: 1600 Pioneer Tower, 888 SW Fifth Ave., Portland 97204
Phone: 503-802-2102
Contact: Gwendolyn Griffith, Executive Director
Statutory Authority: ORS 289.100


Duties and Responsibilities: The Oregon Facilities Authority was created in 1989 and is empowered to issue low-cost bonds to assist nonprofit organizations with the financing of property and facilities for health, housing, educational and cultural uses. The authority reviews proposed projects and makes recommendations to the state treasurer about the issuance of bonds.

Municipal Debt Advisory Commission
Address: 350 Winter St. NE, Suite 100, Salem 97301-3896
Phone: 503-378-4930
Fax: 503-378-2870
Contact: Laura Lockwood-McCall, Debt Management Division Director
Statutory Authority: ORS 287.030


Duties and Responsibilities: The Municipal Debt Advisory Commission collects and reports information related to Oregon local government debt and provides policy input to the Legislature on debt matters of local governments.

Private Activity Bond Committee
Address: 350 Winter St. NE, Suite 100, Salem 97301-3896
Phone: 503-378-4930
Fax: 503-378-2870
Contact: Laura Lockwood-McCall, Debt Management Division Director

 

Duties and Responsibilities: The Private Activity Bond Committee allocates tax-exempt private activity bond allotments provided to the state under federal tax law.

State Debt Policy Advisory Commission
Address: 350 Winter St. NE, Suite 100, Salem 97301-3896
Phone: 503-378-4930
Fax: 503-378-2870
Contact: Laura Lockwood-McCall,
Debt Management Division Director
Statutory Authority: ORS 286.550–286.555

 

Duties and Responsibilities: The State Debt Policy Advisory Commission, chaired by the state treasurer, prepares annual reports regarding outstanding tax-supported and non-tax-supported debt and makes recommendations to the governor and Legislature regarding affordable levels of state indebtedness.

 

Finance Division
Address: 350 Winter St. NE, Suite 100, Salem 97301-3896
Phone: 503-378-4633
Fax: 503-373-1179
Contact: Cora Parker, Director

 

Duties and Responsibilities: The Finance Division provides cash management services to all Oregon state agencies and hundreds of Oregon local government entities, including cities, counties, schools and special districts. The division also helps protect public funds deposited at private banks and credit unions through collateralization requirements governed by ORS chapter 295. As the central bank for state agencies, the division manages millions of financial transactions annually, including cash deposits, electronic fund transfers, and check issuance. The division also administers the Local Government Investment Pool, which provides a short-term investment vehicle for local governments for the period between when revenue is received and when it is needed to pay public bills.


Short Term Fund Board
Address: 350 Winter St. NE, Suite 100, Salem 97301-3896
Phone: 503-378-4552
Fax: 503-378-2870
Contact: Heidi Rawe
Statutory Authority: ORS 294.885


Duties and Responsibilities: The purpose of the board is to advise the state treasurer and the Oregon Investment Council in the management and investments of the Oregon Short Term Fund and the Local Government Investment Pool. The treasurer serves as an ex officio member and appoints three members to the board. The governor appoints the remaining three members.

 

Investment Division
Address: 16290 SW Upper Boones Ferry Rd., Tigard 97224
Phone: 503-431-7900
Contact: John Skjervem, Chief Investment Officer


Duties and Responsibilities: The Investment Division manages the financial and real asset portfolios comprised by the Public Employees Retirement Fund, State Accident Insurance Fund, Oregon Short Term Fund, Common School Fund and numerous other state and agency accounts. On June 30, 2016, the combined market value of these funds totaled $89 billion, which included a $70 billion balance for the Public Employees Retirement Fund, the largest trust fund under division management. Each managed fund has a unique risk and return profile and is broadly diversified across asset class, geography and investment strategy. The division also manages the investment program for the state’s deferred compensation plan, serves as staff for the Oregon Investment Council and strives to save taxpayers and beneficiaries money by meeting each fund’s specific investment objective at the lowest possible net cost.

Investment Council
Address: 350 Winter St. NE, Suite 100, Salem 97301-3896
Phone: 503-378-4000
Contact: John Skjervem, Chief Investment Officer
Statutory Authority: ORS 293.706


Duties and Responsibilities: The Oregon Investment Council sets policy for all state investment trust funds and discharges its responsibilities consistent with state law and governing fiduciary standards. The state treasurer and director of the Public Employees Retirement System are ex officio council members, and the governor appoints four members whose service is subject to Senate confirmation. The council approves guidelines for all state investment activities and delegates day-to-day management authority to the Office of the State Treasurer’s Investment Division.


Other Groups

 

Oregon 529 Savings Network
Address: 350 Winter St. NE, Suite 100, Salem 97301-3896
Phone: 503-373-1903
Web: www.oregon529network.com
Contact: Michael Parker, Executive Director
Statutory Authority: ORS 348.841


Duties and Responsibilities: The Oregon 529 Savings Network gives Oregonians a tax-advantaged option to save for future education expenses and expenses incurred by Oregonians with disabilities. The Oregon plans are administered by the Oregon 529 Savings Board. The plans are qualified under Section 529 of the federal Internal Revenue Code. Investors qualify for state tax deducations for deposits, and all gains are state and federal tax free if used for qualified expenses.

 

Oregon offers two education-related 529 plans: the Oregon College Savings Plan, which is sold directly to investors, and the MFS 529 Savings Plan, sold exclusively through financial advisors. Both plans operate independently of each other but are governed by the same state and federal laws.

 

The Oregon ABLE (Achieving a Better Life Experience) Savings Plan was launched in 2016 and gives disabled Oregonians the ability to save and receive the same tax benefits. In addition, under federal law, as much as $100,000 in assets may be saved in ABLE accounts and not jeopardize eligibility for vital public assistance programs.

 

Oregon Retirement Savings Plan
Address: 159 State Capitol Bldg., 900 Court St. NE, Salem 97301
Phone: 503-378-4329
Web: www.oregon.gov/Retire/Pages/index.aspx
Contact: Lisa Massena, Executive Director
Statutory Authority: ORS 178.200

 

Duties and Responsibilities: Enacted by the 2015 Legislature to address a crisis of inadequate savings, the Oregon Retirement Savings Plan serves Oregonians who do not have access to a retirement savings option, such as a 401(k) plan. More than half of the Oregon workforce does not have access to a plan at work.

 

The plan will launch in phases starting in 2017 and is overseen by the Oregon Retirement Savings Board, which is chaired by the state treasurer. Two legislators sit as ex officio members and the governor appoints four members whose service is subject to Senate confirmation.

 

Information Services Division
Address: 350 Winter St. NE, Suite 100, Salem 97301-3896
Phone: 503-378-3436
Contact: Nancy O’Halloran, Chief Information Officer


Duties and Responsibilities: The Information Services Division provides enterprise-level information technology across the Office of the State Treasurer divisions, programs and business units in support of the state treasurer’s mission.

 

OST home