Members of the Eastern Region of the National Association of State Treasurers (NAST) elected Delaware State Treasurer Colleen Davis as their new Vice President. Davis succeeds The Honorable Henry Beck, Maine’s State Treasurer who recently became Regional President.

Treasurer Beck said he needed a good person to step forward to serve and nominated Treasurer Davis for the position.

“Treasurer Davis has been a leader nationally on financial and economic issues,” Beck said. “She will serve the National Association of State Treasurers and importantly, our constituents, very well in this new role.”

“I’m honored and excited about my new role in the Eastern Region,” Davis said. “I look forward to working together with my colleagues and strengthening relationships for the benefit of all of our constituents, whether it be addressing retirement security issues, improving financial education initiatives, or continuing the culture of financial stewardship.”

Treasurer Davis also serves as the Chair of the NAST Banking and Cash Management Committee and is a member of the Executive Board of the NAST College Savings Plans Network.

“We are grateful to Treasurer Davis for her commitment to the National Association of State Treasurers and its success,” commented Executive Director Shaun Snyder. “As the Eastern Region Vice President, Treasurer Davis will represent her colleagues at the highest level of leadership in the association.”

In addition to Delaware, NAST’s Eastern Region consists of Connecticut, District of Columbia, Maine, Maryland, Massachusetts, New Hampshire, New Jersey, New York, Pennsylvania, Rhode Island, Vermont, and West Virginia.

The National Association of State Treasurers (NAST) was founded in 1976 and serves as the nation’s foremost authority for responsible state treasury programs and related financial practices, policies, and education. NAST’s membership is comprised of all state treasurers or state finance officials with comparable responsibilities from the United States, its commonwealths, territories, and the District of Columbia, along with employees of these agencies. Treasurer Davis has been a member since 2019.

The College Savings Plans Network (CSPN) has nominated and confirmed Delaware State Treasurer Colleen Davis to its Executive Board. An affiliate of the National Association of State Treasurers (NAST), the CSPN brings together state officials who administer 529 savings plans which offer federal and state tax benefits for people to save for a child’s education. The group offers convenient tools and objective, unbiased information to help families make informed decisions about education savings.

“The cost of a quality education can take a major toll on families and that’s why I’m honored to be part of a group that can truly help,” said Treasurer Davis. “Our goal is to create awareness, understanding, and use of 529 plans to empower families to save for education.”

Chaired by Illinois State Treasurer Michael Frerichs, the CSPN’s strategic priorities include increasing public awareness of the value of saving through 529 plans, preserving and enhancing tax advantages for saving, and advocating for federal regulatory requirements to maintain and improve access and appeal of 529 plans.

“Since her election in 2018, Treasurer Davis has been committed to reducing the burden of student debt through college savings,” said CSPN Chair Michael Frerichs. “We are thrilled to have her join the CSPN Executive Board as we continue working to expand awareness and help more families save through 529 college savings plans.”

Under Treasurer Davis, the Office of the State Treasurer administers Delaware’s College Investment Plan, DE529. The Plan provides tax-advantaged accounts designed to help parents, grandparents and others pay for education expenses, reducing the possibility of debt.

“Delawareans don’t pay any taxes on money as it grows in a DE529 account, plus withdrawals for qualified education expenses like tuition, fees, and books are federal and Delaware income tax-free, and many are reaping its benefits,” Davis said. “As of the third quarter of 2020, the number of new DE529 accounts increased 21% over the previous year, with total assets jumping by $21-million.”

In addition to almost all accredited colleges and universities nationwide, funds from DE529 accounts can be used at many vocational or technical schools, K-12 programs, and eligible foreign institutions. There is also no minimum investment.

The incoming President of the National Association of State Treasurers (NAST) has named Delaware State Treasurer Colleen Davis as Chair of NAST’s Banking and Cash Management Committee. Previously the Vice Chair, Davis will lead the committee in recommending policy for NAST and developing education content for NAST conferences and webinars.

“I’m honored to have been chosen for this important role,” said Treasurer Davis. “The committee will discuss important policy issues relating to banking and cash management that will benefit all State Treasurers and more importantly, the citizens they serve. I am grateful for the appointment by The Honorable Kelly Mitchell, Indiana State Treasurer and incoming NAST President.”

“I am pleased that Treasurer Davis has agreed to serve as Chair of the Banking Committee for NAST,” said Treasurer Mitchell. “I look forward to working alongside her, and I appreciate her commitment to public service.”

Joining Treasurer Davis on the committee are:

• Hon. John Murante, Nebraska State Treasurer – Vice Chair
• Hon. John Schroder, Louisiana State Treasurer
• Hon. Bruno Fernandes, Washington D.C. Treasurer
• Hon. Henry Beck, Maine State Treasurer
• Hon. Dennis Milligan, Arkansas State Treasurer
• Hon. David Damschen, Utah State Treasurer

NAST serves as the nation’s foremost authority for responsible state treasury programs and related financial practices, policies, and education.