Welcome to the new year! As someone who cares about Oregon’s financial well-being, I wanted to let you know about some of the progress Treasury is making on issues you care about.

During my first year in office, Treasury’s skilled and knowledgeable staff have:

• Helped keep PERS strong and stable by producing nearly 9% investment gains for the state’s public employee retirement system (PERS), outperforming PERS’ 6.9% investment growth target.
• Balanced the PERS fund’s portfolio by reducing Oregon’s private equity exposure.
• Strengthened local communities through bonds that provided $2 billion in funding for desperately needed housing and other infrastructure projects across the state (while leveraging our strong credit ratings to save Oregon taxpayers nearly $100 million in debt servicing costs).

As we begin 2026, I will be focused on making sure Oregon’s investment strategy meets our needs for today and the future. We’ll stay true to Oregon’s new climate investment law—which I championed— and keep reporting our progress in reducing greenhouse gas emissions in the PERS fund.

I will continue to speak up for the financial well-being of Oregon residents and businesses in the face of ongoing federal disruptions, which are making it harder for families to make ends meet and for businesses to compete.

Let me know if you have questions. I look forward to staying in touch!

 - Elizabeth Steiner, MD, Oregon State Treasurer