OKLAHOMA CITY – Oklahoma State Treasurer Randy McDaniel announced that he will not seek re-election next year but plans to continue serving as treasurer until his current term ends on January 9, 2023.

“It has been an honor to serve Oklahoma as state treasurer and as a state representative,” McDaniel said.

“I am thankful for each opportunity and make this announcement with great appreciation for those who made it possible, especially my loving wife, Julie, and our family. Our children, Grace and John, are now in middle school, and this decision allows me to give priority to family rather than a statewide campaign.”

McDaniel said a significant lead time is typically needed for a statewide race, and the timing of this announcement should give candidates for this office enough time to organize and campaign.

McDaniel was elected as the 19^th State Treasurer of Oklahoma in 2018, winning all 77 counties and receiving nearly 72 percent of the vote. He holds a certificate of Public Treasury Management from the National Institute of Public Finance and serves on the board of the National Association of State Treasurers.

During his tenure, McDaniel has managed the consolidation of the state’s bond financing operations and has overseen major growth in the Oklahoma 529 College Savings Plan and OK STABLE, a savings and investment program for people with disabilities. He won legislative approval this year for a state income tax deduction for contributions to OK STABLE and increased flexibility for the allowable uses of college savings funds.

In 2006, McDaniel was elected to the Oklahoma House of Representative, where he served for 12 years. He chaired the Banking, Financial Services and Pensions Committee. In 2015, the American Legislative Exchange Council selected him as the nation’s legislator of the year for his efforts to strengthen the state’s retirement systems.

After earning a master’s degree from Cambridge University, McDaniel began his career in banking. He worked for more than 20 years in the private sector as a successful financial advisor.

McDaniel is a graduate of the University of Oklahoma, where he was selected Outstanding Senior Man and a distinguished military graduate. He served in the Oklahoma Army National Guard for 11 years, rising to the rank of captain.

“My time as state treasurer has been fulfilling and I’ve worked hard to make a difference,” he said. “My predecessors have been supportive. The professional staff in the treasurer’s office has been outstanding, never more evident than during the pandemic. I am proud to serve with them and look toward the future with faith and confidence.”