Treasurer David McRae

State Treasurer David McRae

David McRae’s family has called Mississippi home for generations. His great-grandfather, Sam McRae, grew up on a farm in Rankin County and opened the first S.P. McRae department store in Jackson at the turn of the century. Built on a commitment to customer service, the company grew into one of the Southeast’s premier retail chains, serving shoppers for more than 100 years.

That same customer-first mindset guides McRae’s work today as State Treasurer.

As Treasurer, McRae is responsible for managing the cash flow that keeps state government running day to day. Under his leadership, the Treasury has transformed its investment performance, increasing average annual earnings from $39 million to $187 million. Through conservative, results-driven management, the state generated a record-breaking $1 billion in interest income since 2020 on funds that would have otherwise sat idle. Mississippi’s strengthened financial position has also contributed to an improved credit outlook during McRae’s tenure.

The Treasurer has also made returning unclaimed money a top priority. To date, his office has returned more than $170 million to Mississippians, which represents more than half of all funds returned in state history.

In addition, he oversees Mississippi College and Career Savings, helping families prepare for the cost of college and career training while strengthening the state’s future workforce. Under his leadership, the program has earned national recognition, with MACS ranked among the top programs in the country by Forbes and MPACT restored to financial solvency.

McRae has been selected by his peers to serve on the Board of Directors for both the National Association of State Treasurers and the National Association of State Auditors, Comptrollers and Treasurers. He was also appointed by Governor Tate Reeves to the Balanced Budget Interstate Compact.

Before taking office, McRae worked in his family’s business as Managing Partner of McRae Investments. He remains active in civic life, supporting organizations such as Habitat for Humanity, Friends of Children’s Hospital, and the American Heart Association.

McRae earned his law degree from Mississippi College, where he served as Chief Justice of the Honor Court. He is a member of the Mississippi Bar and lives in Ridgeland with his wife, Katherine, and their three children.