On January 14, 2010, he was nominated by New Jersey Governor Chris Christie as State Treasurer. Eristoff assumed the duties of Acting State Treasurer on January 19, 2010. The New Jersey Senate confirmed his nomination on February 22. He was sworn in on March 2, 2010. The longest-serving Treasurer in almost 40 years, Mr. Eristoff oversaw a major department with almost 3,100 employees and more than 10 divisions spanning budget, revenue collection, public finance and debt management, benefits administration, pension fund investments, Statewide information technology standards and infrastructure, procurement, State facilities, risk management, unclaimedproperty administration, and the State Lottery. In addition to managing the development and execution of New Jersey's $30 billion-plus annual budget, Mr. Eristoff played a major role in developing Governor Christie's landmark 2001 pension and health benefits reforms, designed and implemented Governor Christie's Performance Budgeting Initiative, drafted Governor's Christie's $2.3 billion business tax reduction package of 2011, advanced significant procurement process reforms, managed several major privatization initiatives, restructured the State's IT governance configuration, and oversaw debt and financial management reforms that achieved $1.9 billion in budget savings and eliminated the State's exposure to $4.2 billion in risky derivatives.