The Office of the Treasurer and Receiver General was created by the Massachusetts Constitution of 1780 as a position filled by a joint vote of the General Court. It became a popularly elected office by the Constitutional Amendment Article X...VII, ratified in 1855. Chapter 350, Acts of 1919 established the Department of the Treasurer and Receiver General which became Massachusetts Department of the State Treasurer.
The State Treasurer is fourth in succession to the Governor and one of six constitutional officers. Just as the other officers, the Treasurer serves a four-year coterminous term with the Governor.
The Treasury is responsible for managing the state’s daily cash flows and state-issued debt. The Treasurer's office administers the state employees' retirement system, the Unclaimed Property division, and oversees independent agencies including the Massachusetts School Building Authority, Alcoholic Beverages Control Commission, Massachusetts State Lottery Commission, and the Massachusetts Pension Reserves Investment Management Board.