2017

SPRINGFIELD — Illinois Treasurer Michael Frerichs today announced a $10 million investment in Israel bonds, a 50 percent increase since his visit to Israel in 2016. The investment matures in March 2020. Illinois now invests a total of $50 million in Israel Bonds. “Israel Bonds continue to showcase their reliability as a strong investment opportunity with good returns for Illinois,” said Frerichs. “I am proud to continue to strengthen our diverse investment portfolio while also maintaining the strong global partnership we have formed with the State of Israel.” Since visiting…

SPRINGFIELD — Illinois families are the winners today after the Senate voted to override Gov. Rauner’s veto of the Life Insurance Reform Act, State Treasurer Michael Frerichs said today. The act will require life insurance companies to pay death benefits in a timely manner. Some benefits had gone decades without payment. “This override vote means a countless number of our families will keep their home, and a child will not be forced to drop out of school to support their family after a loved one dies,” Frerichs said. “Today’s action…

SPRINGFIELD — Illinois State Treasurer Michael Frerichs today issued a statement following the announcement by Cardinal Health that its chief executive officer, George Barrett, will step down. Barrett’s resignation announcement comes amid investor concerns regarding the company’s role in the opioid epidemic and reports of sluggish financial performance. Frerichs and fellow state treasurers from California, Pennsylvania and West Virginia sent a letter to Cardinal Health in September, 2017, emphasizing their concerns with business practices at the company that have contributed to the nation’s opioid crisis, which claimed 64,000 lives in…

EAST ST. LOUIS — Illinois State Treasurer Michael Frerichs today returned a Purple Heart Medal to Tommie Turner, brother-in-law of late Vietnam War Veteran, Willie G. Riley, at a ceremony at East St. Louis City Hall. The Purple Heart is one of the most recognized and respected medals awarded to a member of the U.S. Armed Forces. Frerichs also returned military transfer papers, a savings bond, and jewelry that belonged to Turner and his late wife. The items were discovered in a safe deposit box that was surrendered to the…

SPRINGFIELD — The federal tax plan unveiled by Congressional Republicans is a horror story for the middle class and unemployed and will undermine the Illinois economy, state treasurer Michael Frerichs said today. “This mess of a proposal that purports to give everything to everyone will crush Illinois,” Frerichs said. “This bill clearly will hurt middle class workers and the small business owners who employ them.” The proposal includes: • Elimination of the individual local property tax and state income tax write-off, making it more expensive to live in Illinois. •…