Young Boozer today announced his candidacy for State Treasurer of Alabama in 2022. He was recently appointed by Governor Kay Ivey to serve the remaining term of current State Treasurer John McMillan. Boozer will take office effective October 1, 2021.
“I’m honored Governor Ivey appointed me to serve the remainder of John McMillan’s term as State Treasurer. Having served our state in that capacity from 2011-2019, it’s an office I know well, and one I’m passionate about. I’m also pleased to announce my candidacy for State Treasurer in the 2022 election. I would be incredibly proud to once again serve the people of Alabama. We accomplished many positive outcomes during my time in office, but there’s alwaysroom to reach higher. With my unique skills and experience, I would work to continue improving all divisions of Treasury, and to protect and preserve the PACT program,” said Boozer.
While serving as Treasurer, Boozer negotiated a settlement for the financially struggling PACT college savings plan and established a college scholarship program that has awarded more than $8 million over the past nine years to 2,475 Alabama high school students. He also transformed Treasury into a self-funded office, meaning it no longer requires support from the State’s General Fund. Boozer led the establishment of the ABLE program, which allows people with disabilities to save money without jeopardizing their public benefits. With these programs, he worked tirelessly to improve investment options for the State and saving options for Alabamians.
Boozer’s financial expertise also played an integral role when working with the Legislature to enact multiple improvements to the $4.4 billion Alabama Trust Fund, the State’s most valuable financial asset. “We made improvements to provide a more stable source of revenue to Trust Fund recipients, and to establish prudent, long-term management of ATF assets,” said Boozer.
Young Boozer was born in Birmingham and raised in Tuscaloosa. He earned a bachelor’s degree in economics from Stanford University and a master’s degree in finance from the Wharton School at the University of Pennsylvania. During the past four decades, Boozer’s career has been focused on banking, finance and investments.
Boozer served as Deputy State Finance Director for Governor Bob Riley after retiring from banking in 2007. During his tenure in the Alabama Department of Finance, he played a key role in saving millions of taxpayer dollars through the restructuring of state bond debt and derivatives.
He is a member of and has held leadership roles in several organizations, including the Church of the Ascension in Montgomery, the Montgomery Rotary Club, the Alabama Shakespeare Festival, the Boy Scouts of America and Stanford University.