Malek highlights state treasury programs during Pettis County visit

Published 2:27 am Thursday, October 8, 2026

Missouri State Treasurer Vivek Malek brought coffee, doughnuts and a message about money Wednesday, Oct. 7, as he visited the Pettis County Commission to discuss programs available through his office.

Malek, who has served as state treasurer since 2022, told local officials and community members that his office has focused on what he calls the “Three P’s” — protecting taxpayers’ money, providing opportunities and promoting the promise of America.

“I like to say we have kind of brought it out and gotten out of the office from the slumber to give you a little highlights on things that we have done,” Malek said.

One of his priorities has been improving the return on Missouri’s investments. The Treasurer’s Office earned more than $510 million in investment earnings during fiscal year 2026, according to the office. Malek said the state currently manages roughly $14 billion in investments.

Malek said Missouri’s Constitution limits where the treasurer can invest state funds, primarily to U.S. Treasury securities, repurchase agreements and commercial paper.

He said he wants to expand those options while maintaining safety as the primary consideration.

“We’re still working on that,” Malek said. “I hope we’ll get support … to change the Constitution and get some of the more long instruments, maybe we can invest, still having safety and security as the primary thing to make sure the taxpayer money is safe and secure.”

Malek also discussed his efforts to reduce Missouri’s financial exposure to China, including investments held through state pension funds.

Another major focus has been returning unclaimed property to Missourians. Malek said his office has increased annual distributions from roughly $42 million before he took office to more than $61 million during his tenure.

Missouri currently holds about $1.5 billion in unclaimed property waiting to be claimed.

Malek said Pettis County alone has millions of dollars in unclaimed property spread across tens of thousands of accounts and encouraged residents to check whether they are owed money.

A new computer system scheduled for implementation next year could make the process even easier, he said. The system will allow the state to match information from multiple databases, potentially allowing some property to be returned automatically without residents filing a claim.

“I would say at least close to 25% of the unclaimed property will be just sent out to who it belongs to, without people even claiming it,” Malek said.

Malek also promoted the state’s MOST 529 education savings program, which he said has grown to more than 200,000 subscribers and more than $5.4 billion in assets.

A new vendor is being brought into the program, with fees expected to fall substantially. Malek said the change could save Missouri investors billions of dollars over time.

He also highlighted MO ABLE, which allows people with disabilities to save and invest money without jeopardizing eligibility for certain federal benefits. Malek said the program has grown from about 4,000 accounts in 2023 to roughly 8,500.

“It’s a great tool,” Malek said. “If you have folks at home, or you know somebody, a relative or friend with a disabled child, or if they are disabled, they should take advantage of the program.”

Malek also encouraged families to investigate the newly established federal Trump Accounts, which provide a new way to save for children’s futures.

For businesses and farmers, Malek touted the state’s MOBUCK$ linked-deposit program, which provides access to lower-interest loans through participating financial institutions. The program has grown substantially, with hundreds of millions of dollars distributed to Missouri businesses and farmers.

Finally, Malek discussed a proposed “Show Me My Retirement” program designed to help small businesses with fewer than 50 employees offer retirement savings options to their workers.

Malek said the goal is to give workers at small businesses another avenue to prepare financially for retirement while reducing the future burden on state resources.

“These are some of the things that we are trying to do from the treasurer’s office,” Malek said.

Malek also visited RISE Community Services in Warrensburg on Wednesday,touring the facility and delivering remarks on ways his office’s programs can help families impacted by disability.

​Chris Howell can be reached at 660-530-0146.