JEFFERSON CITY — Missouri’s next state treasurer could be in office for a decade, even though term limits typically block officials from staying longer than eight.
Republican Vivek Malek, who will fill a vacancy left by Treasurer Scott Fitzpatrick’s move to the state auditor post, will be formally sworn into office on Jan. 17.
Under state law, if an appointee to be treasurer holds the office for more than two years, he or she cannot run for more than one additional four-year term.
But, by waiting a few extra days to be sworn in, the political newcomer will be able to run for two full terms in the $107,700-a-year job.
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Malek, 45, acknowledged the possibility and said he would be honored to serve two full terms if voters give him the opportunity.
“As the governor mentioned in his speech announcing my appointment, he wants stability in the Treasurer’s office, and stability will be my priority,†Malek said in an email to the Post-Dispatch Friday.
Malek, the first person of color to serve in statewide office, was named to the position in December by Gov. Mike Parson.
The Wildwood attorney is originally from India and studied at Southeast Missouri State University.
Along with managing Missouri’s $20 billion in annual state revenues, the treasurer directs its banking services, oversees the state’s $6.5 billion investment portfolio and sits on a number of financially focused state boards and commissions.
Since Parson’s announcement, Malek has been in the Capitol familiarizing himself with the job and meeting with representatives of the Missouri Housing Development Commission, state employee pension officials and others.
“The transition has my full attention,†he said.
He said Fitzpatrick has been helpful in getting him up to speed.
“His team prepared two boxes full of transition materials, and I spent much of the holiday season reading through their notes. They have been thorough and highly organized, and I truly appreciate their hard work,†Malek said.
Malek said choosing Jan. 17, a day after Martin Luther King Jr. Day, to be sworn in also will give him time to close his law firm.
“I would be honored to have the opportunity to serve two full terms, and given the upcoming holiday, January 17 is the earliest opportunity to assume office while remaining eligible for two terms. This will also give me more time to wind down my legal practice and transition into the Treasurer’s office,†he said.
Malek’s predecessor, Fitzpatrick, also set himself up to qualify for two full terms by choosing a later date to be sworn in in 2019.
Lawmakers elected in special elections also have routinely kept a close eye on the calendar to determine if their swearing-in date will be affected by the limits on legislative terms.