2017

CHICAGO — The Illinois State Treasurer’s office has partnered with The Chicago Lighthouse to provide customer support for the state’s electronic banking and payment services, state Treasurer Michael Frerichs said today. The partnership ensures excellent customer service for individuals and units of local government using the state’s ePAY services while supporting an organization that provides employment and job training for Veterans and people who are blind, visually impaired and disabled. “This is an investment in people and in the power of possible,” Frerichs said. “For more than a century, The…

CHICAGO — As the state’s chief investment officer, Illinois State Treasurer Michael Frerichs today urged Gov. Bruce Rauner to act on the authority given to him and refinance the nearly $15 billion bill backlog. The backlog, which has tripled since the Governor took office, represents loans from unwilling employers doing business with the state at the outrageous interest rate of 12 percent. “There is not a financial advisor worth his salt who would urge a family to keep a 12 percent loan when better interest rates are available,” Frerichs said.…

SPRINGFIELD — Illinois State Treasurer Michael Frerichs today announced the winners of the 2017 Cream of the Crop Photo Contest. The annual contest encourages young photographers to share their vision of agriculture in our state. “Each year, this photography contest highlights the beauty of Illinois agriculture and the talent of children throughout this state,” Frerichs said. “Thank you to everyone who participated in the contest, it was fun to get a glimpse of local farms, animals, and the beautiful landscape of the place we call home.” The winning entries will…

July 28, 2017 — Illinois State Treasurer Michael Frerichs, West Virginia State Treasurer John Perdue and Pennsylvania State Treasurer Joe Torsella released the following statements today after McKesson Corp. announced this week that it would split the roles of Board Chair and CEO, beginning with the Company’s next CEO. Shareholders also voted against the compensation arrangements for the CEO and other top executives amid concerns related to the company’s role in the ongoing opioid crisis. “I am pleased to see McKesson embracing change,” Illinois State Treasurer Michael Frerichs said. “We…

CHICAGO — Illinois State Treasurer Michael Frerichs today hosted the Illinois Growth and Innovation Fund (ILGIF) summit. The annual meeting was an opportunity to learn more about the state’s technology investments and its impact on expanding Illinois’ entrepreneurial ecosystem. The event also provided a chance to network with entrepreneurs, venture capital firms, and growth equity fund managers. “We are very proud to host today’s summit in one of the nation’s top innovation hubs,” Frerichs said. “The event provided a rare opportunity for firms to network with the best in the…