 State Treasurers are limited to two terms in office, and along with the Governor, is the only other statewide elected office in Missouri that is subject to term limits.Schmitt was elected as State Treasurer after Clint Zweifel was ineligible to seek reelection in the 2016 election, and announced that he would not run for any other political office that year.The state treasurer is responsible for managing more than $24 billion in annual revenues and more than $3.6 billion in state investments.