2016

CHAMPAIGN — Illinois Treasurer Michael Frerichs will join other elected officials and advocates to urge Governor Bruce Rauner to sign House Bill 4633. The legislation requires insurers to use the federal Death Master File to determine if a policyholder has died and the death benefits have not been paid. A news conference will be held Monday, June 20 at Noon at the Illinois Terminal CityView, 45 East University Avenue, Champaign, IL. WHO: Michael Frerichs, Illinois State Treasurer and Senator Scott Bennett, Representative Carol Ammons, Andre Jordan, AARP WHAT: Illinois Treasurer…

SPRINGFIELD — Collectible coins, gold jewelry and sterling dinnerware are some of the 11,600 unclaimed property items worth $45,000 to be auctioned online June 20- 24. “Our unclaimed property team works hard to return valuables to their rightful owners,” Illinois Treasurer Michael Frerichs said. “If the property goes unclaimed for 10 years, the items are auctioned to make room for incoming unclaimed items.” Items include a 1911 Indian Head 2½ dollar gold coin; a 22KT gold necklace; a 1918 Illinois Centennial half dollar coin; and vintage Hohner harmonicas. All 130…

CHICAGO — The state of Illinois earned $7.8 million less in investment income the first quarter of 2016 as a result of the budget impasse, Illinois Treasurer Michael Frerichs said today. That translates into projected missed earnings of $31.2 million for 2016. Threats of unplanned fund sweeps and the need to pay court-ordered bills required the treasurer’s office to make short -term investments that prioritized cash availability rather than longer-term, higher-yielding investment opportunities. “A budget is a spending plan. Without a spending plan, it is very difficult to know what…

SPRINGFIELD — Illinois State Treasurer Michael Frerichs today released the following statement after Moody’s decision to lower Illinois’ credit rating for the second time since the budget impasse. “This credit downgrade is disappointing because it is avoidable,” said Frerichs. “Illinois remains a good investment, but the focus on non- budgetary items is driving up the cost of government. Higher interest rates when we borrow money mean fewer dollars for teachers, child care workers, and others who serve our most vulnerable.” “I continue to urge Governor Rauner and the Illinois General…

SPRINGFIELD — Illinois State Treasurer Michael Frerichs’ staff will be in Rock Island on June 9 to reunite citizens with their unclaimed property through the I-Cash program. In Rock Island and Henry and Mercer counties, an estimated 140,000 people have unclaimed cash or property currently under the Treasurer’s protection. The value exceeds $19 million. Statewide, Frerichs safeguards more than $2 billion in unclaimed cash and property. “For most people, it is difficult to believe that they might have overlooked an investment account or forgot to pick up a final paycheck.…