Office of State Treasurer Denise L. Nappier

 Connecticut Treasurer Denise L. Nappier   

Denise Lynn Nappier is the first African-American woman elected to serve as a State Treasurer in the United States and the first African-American woman elected to a statewide office in Connecticut. Elected in 1998 and re-elected in 2002, 2006 and 2010. Treasurer Nappier is also the only woman to be elected Treasurer in Connecticut history.

As Connecticut’s chief elected financial officer, Nappier oversees $52 billion in state funds, including the $25 billion Connecticut Retirement Plans and Trust Funds, one of the nation’s top performing state pension funds. Her high standards and financial expertise have brought integrity back to the Treasurer’s office and professionalism to the management of state resources. The Treasury’s Short-Term Investment Fund has been rated as one of the nation’s best government investment pools, and the Fund’s superior performance has earned the state and local governments and their taxpayers an additional $173 million during the Nappier Administration.

Treasurer Nappier’s innovative and resourceful leadership has saved Connecticut citizens and businesses hundreds of millions of dollars, and the asset recovery and loss prevention program she established, the first of its kind in Treasury history, has recovered nearly $1 billion. The Nappier Administration has an unsurpassed commitment to invest in Connecticut’s citizens and businesses, and an exceptional track-record of doing business with Connecticut-based firms, women- and minority-owned firms, and the next generation of entrepreneurs and professionals in the financial services industry.

In 2006, Treasurer Nappier initiated and successfully led efforts to establish a new tax deduction for Connecticut families who contribute to CHET college savings accounts in order to encourage Connecticut residents to save for higher education. Under her administration, the CHET program, which has grown from $18 million in assets in 1999 to more than $1.5 billion today, has become one of the nation’s most accessible and affordable college savings programs.

Treasurer Nappier was the architect of the coalition of housing, business, community and municipal leaders who worked with legislators in 2005 to establish a $100 million Housing Trust Fund for Growth and Opportunity, aimed at increasing affordable housing for working families in Connecticut. She was also the original proponent who worked with legislators to enact Connecticut’s landmark Gift Card Law, which helps consumers by prohibiting expiration dates and non-use service fees on gift cards sold in Connecticut.

Throughout her administration, Treasurer Nappier has served as a catalyst and effective advocate for financial literacy for people across the state, working with the private sector and community- and faith-based organizations to expand financial education programs. She also led efforts to create Connecticut’s Individual Development Account program, a matched savings program designed to help working families build a better future by attaining financial goals such as a first-time home purchase.

The Nappier Administration has shattered numerous all-time records in returning roughly $279 million to rightful owners in unclaimed assets. Under her leadership, the state’s Second Injury Fund, which administers injured workers’ claims, has not raised assessments on Connecticut businesses for thirteen consecutive years, saving Connecticut businesses $653 million. In addition, Treasurer Nappier’s ingenuity and leadership in the management of the state’s debt program has saved Connecticut taxpayers more than $657 million.

Treasurer Nappier is one of the nation's leading institutional investors working for corporate reform on issues including executive compensation, conflicts of interest in accounting practices, independence and diversity of board members, and disclosure of financial risks of climate change. She proposed and co-chaired the Institutional Investor Summit on Climate Risk, held at the United Nations in 2003, 2005, 2008 and 2010.

Widely respected by her peers, Treasurer Nappier served five terms as Treasurer of the National Association of State Treasurers and is a board member of the National Association of Corporate Directors, Connecticut Chapter; the first public fund investor to serve in that capacity, and the International Foundation for Electoral Systems. The Hartford native previously served as Hartford City Treasurer for nearly ten years, and as Executive Director of Hartford’s Riverfront Recapture. She holds a B.A. from Virginia State University and a master’s degree from the University of Cincinnati. She holds honorary degrees from Teikyo Post University, Trinity College, Briarwood College, University of Hartford and Saint Joseph College.

Treasurer Nappier was named as one of the nation’s 100 Most Influential People in Finance by Treasury & Risk Management magazine (2006 and 2010) and one of the 50 Most Powerful Black Women in Business by Black Enterprise. She has also received the Corporate Responsibility Leadership Award from Citizens for Economic Opportunity (CEO), the National Association of Investment Companies Pacesetter Award and the Good Housekeeping magazine Award for Women in Government, in recognition of her advocacy of responsible corporate behavior and high ethical standards. In 2008, she received the prestigious "Legend Award" from Plan Sponsor magazine.