2016

SPRINGFIELD — More than 100 bidders, some from as far away as Arizona and New Mexico, spent more than $171,000 in this past weekend’s live auction, Illinois State Treasurer Michael Frerichs said today. It was the first time in a decade that the live auction returned to the Illinois State Fair in Springfield. “The state fair’s celebration of Illinois, family fun and agribusiness offered the perfect setting for the auction,” Frerichs said. The state treasurer’s office holds more than $2 billion of unclaimed property including lost bank accounts, insurance policy…

SPRINGFIELD — Illinois Treasurer Michael Frerichs announced today that contract negotiations will soon begin for ABLE program services. The Illinois Treasurer’s Office has been working with nine other states on forming a partnership that seeks to provide the best ABLE program at the lowest possible cost t o beneficiaries. Illinois, on behalf of the ABLE Consortium, published the ABLE RFP on June 8 th , 2016. The RFP outlined requests for investment, administrative, customer service, and outreach material services that would benefit the Consortium. Six vendors responded to the RFP…

SPRINGFIELD — Sprint will pay $2.3 million and provide the names of 32,000 customers who did not cash rebate checks sent to them between 2003 and 2011, Illinois State Treasurer Michael Frerichs and Sprint said today. The agreement resolves disputed claims in ongoing litigation, and there has been no finding of wrongdoing on the part of Sprint. The out-of-court settlement means Frerichs’ office can begin to locate individuals so that they can claim their check. These rebates typically were used as an incentive to purchase a data plan, product or…

SPRINGFIELD — Statewide hearings begin this week to better understand how life insurance companies avoid paying death benefits and what Illinois families can do to prevent themselves from being victimized after the death of a loved one, Illinois State Treasurer Michael Frerichs said today. Since 2011, the Illinois State Treasurer’s office has identified more than $550 million in death benefits that were not paid to grieving families in Illinois. Nationally, $7.4 billion has been identified. Frerichs established a task force that includes members of the General Assembly, Citizen Action Illinois,…

SPRINGFIELD — The Illinois Treasurer’s Office will highlight its office programs, host a live unclaimed property auction, and showcase photos from the 2016 Cream of the Crop contest at this year’s 2016 Illinois State Fair. “The fair is a great time to celebrate Illinois and its rich agriculture,” Illinois State Treasurer Michael Frerichs said. “Visitors can stop by our tent to learn more about our Ag Invest program, see photos from our 2016 Cream of the Crop contest, and find out if they have money tha t belongs to them.”…