The Office of Treasurer Erick Russell

Ethics Policy

Ethics Policy - Office Of The State Treasurer

The State Treasurer's Office is responsible for ensuring the financial integrity and soundness of the funds and operations under its management, including state pension and trust funds, the Second Injury Fund, unclaimed property, the state's cash and banking transactions and the state's issuance and repayment of debt.

The mission of the Office of the State Treasurer is dedicated to working transparently and ethically to safeguard the state’s portfolio and investments. Our investment decisions help provide all individuals and businesses across Connecticut the information and tools necessary to thrive and grow.

The State Treasurer and all personnel of the Office of the State Treasurer are subject to the Code of Ethics for Public Officials and State Employees, which is codified at Conn. Gen. Stat.§§ 1-79 to 1-90a, inclusive. The Ethics Code is designed to ensure that the citizens of the State of Connecticut receive the honest services of state employees, a goal the State Treasurer fully supports and vigorously enforces.

In dealings with Treasury personnel, vendors should be aware that no employee of the Office of the Treasurer may use his or her employment for personal financial benefit. To further this goal, the Ethics Code regulates the conduct of public officials and state employees and, among other provisions, prohibits:

  • Acceptance of any gifts from lobbyists or from persons doing business with the state or seeking to do business with the state
  • Solicitation or acceptance of anything of value based on an understanding that one's official action will be influenced thereby
  • Acceptance of outside employment that will impair the independence of judgment in the exercise of official duties
  • Use of public position or confidential information gained in state service for personal financial gain or financial gain of a family member or associated business

In addition to the Ethics Code, the Office of the Treasurer has adopted contracting procedures that stress accountability, full disclosure and absence of political influence. These policies apply both to state employees and to contractors, and put into practice the Treasurer's commitment to prudent management of public funds.

Due to the unique status of the Office of the Treasurer, as fiduciary and manager of billions of dollars of state funds, there are additional state laws governing the conduct of individuals doing business with and those who hope to do business with us. These laws prohibit the payment or receipt of a finder's fee in connection with any investment transaction involving the state. In addition, no firm which provides investment services to the Office of the Treasurer may make or solicit campaign contributions on behalf of a candidate for State Treasurer.

Honesty and integrity are of paramount importance to Treasurer Russell, as principal fiduciary of billions of dollars in state pension funds, trusts and other assets. The state ethics laws and additional administrative requirements underscore his commitment to maintaining the highest standards of ethics in fulfillment of the Office's responsibilities to prudently manage public funds.