Treasurer Erick Russell Announces Re-Election Campaign

[Tyler Van Buren]

FOR IMMEDIATE RELEASE  //  March 9, 2026

Treasurer Erick Russell Announces Re-Election Campaign

New Haven, CT — Connecticut State Treasurer Erick Russell today announced his campaign for re-election, saying the work of strengthening the state’s financial foundation should now translate into broader opportunity for residents across Connecticut.

“When I first ran for Treasurer, I believed this office could be both disciplined and forward-looking,” Russell said. “Over the last several years, we haven’t just changed how the office works — we’ve changed who it works for. We’re ushering in a new era of fiscal responsibility, making significant payments on long-term debt that has allowed us to invest in the residents of Connecticut and begin to lift up communities across our state. And while we maximize our return on investments, we are leveraging our office to hold corporations accountable to ensure that Connecticut values drive our future.

“Now is the time to shape what we want for our state: a Connecticut where every resident has the resources, knowledge, and opportunity they need to create the future they want for themselves.

“I am running for re-election because I want to keep fighting for the people I grew up with and meet each day. I am focused on fellow Connecticut residents that are too often struggling to get by or find the opportunities they deserve — those that are teaching our children, protecting and serving our communities, and helping build a stronger and more inclusive economy.”

Since taking office, Russell has modernized the Treasurer’s Office by bringing additional expertise into the investment process, building a nationally respected team, and refining strategy to produce strong performance, pay down debt, and mitigate long-term risk. During his first term, the state pension funds generated double-digit returns, averaging 12.35%, increasing total assets by more than $20 billion and strengthening the funds that support retired teachers and state workers.

The efforts undertaken over the last three years resulted in historic upgrades in the state’s bond ratings with Kroll upgrading from AA to AA+, Moody’s upgrading Connecticut from Aa3 to AA2 and Fitch upgrading the state from AA- to AA. These ratings upgrades lead to a greater demand for our bonds which enables short and long-term savings for taxpayers, allowing additional resources to be invested in the services and programs that are most important to the people of Connecticut.

He has brought the same professionalism and creativity to funding the roads, schools, and critical infrastructure Connecticut needs, helping earn improvements to the state’s credit rating and writing reforms to pay down transportation debt responsibly, saving money for taxpayers. Russell has paired innovative public financing with unwavering financial discipline so that today’s progress doesn’t become tomorrow’s burden.

While strengthening how the agency operates, Russell has ensured the benefits of that work reach as many people as possible.

CT Baby Bonds is one of the most significant tools enacted in the country to address the wealth gap, particularly for marginalized communities. It officially welcomed its first participants on July 1, 2023, after Russell secured funding to invest directly in the futures of Connecticut children. The program invests $3,200 on behalf of each baby whose birth is covered by HUSKY — which already includes children in every city and town — to help close the wealth gap, expand long-term opportunity, and spur investment in local communities.

Russell has played an active role in corporate governance on behalf of pensioners and taxpayers, taking on child labor practices, standing with workers in high-profile labor disputes, opposing excessive executive compensation — including Elon Musk’s trillion-dollar pay package — and ensuring that no state pension dollars are invested in private prisons or detention centers.

Other efforts undertaken by Russell’s office include:

• Strengthening financial security for families through the CHET (college savings) and ABLE (disability savings) programs.
• Managing investments in the new Early Childhood Education Endowment to support affordable, high-quality child care.
• Giving towns and cities access to the resources of the Treasurer’s Office to help manage and invest public dollars more effectively and reduce costs for local taxpayers.
• Reforming the unclaimed property program to return more money to rightful owners.
• Fulfilling a key campaign promise by establishing the privately funded Safe Harbor Fund, ensuring women and LGBTQ+ people can travel to Connecticut if their home states restrict reproductive freedom and bodily autonomy without fear of prosecution.

Russell said his path — and the community that supported him — shaped his belief that everyone deserves opportunity and the chance to shape the life they want for themselves and their family.

“I grew up in a community where people looked out for one another and understood that we’re all in it together,” Russell said. “That’s still what guides everything I do. Mine was not the most likely path to statewide office. It happened because of the support of those around me and opportunities that aren’t typical where I come from.

“We’ve made real progress, but we have far more work to do to create the Connecticut we all want. I am looking forward to advancing an agenda of fiscal discipline, continuing increased investment in education and infrastructure, creating more financial security for our retirees and those that participate in programs run through the Treasurer’s Office, and doing my part to build a fairer economy that gives Connecticut residents the opportunity they deserve.” 

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