2017

SPRINGFIELD — “Today’s vote to override Governor Bruce Rauner’s veto of the budget was the only option to restore vital funding to universities, social service agencies, and try to avoid another credit downgrade. “This is not a time to rejoice. Today only brings us a bit of relief, but it is a step in the right direction to put Illinois back on track,” Illinois State Treasurer Michael Frerichs said. “The courage shown by several Republican members of the Illinois General Assembly is commendable. My hope is that the bipartisanship of…

property to owners is among the duties of the Illinois State Treasurer. Since 2011, the treasurer’s office has identified more than $550 million in death benefits that were not paid to grieving families in Illinois. unclaimed property in perpetuity until the items or funds are claimed by the owner or heirs. There is more than $2 billion in unclaimed property such as life insurance benefits, forgotten bank accounts, and unclaimed rebate checks from retailers. Individuals can search a database for their name or the name of to search the database…

SPRINGFIELD — Today, Illinois’ constitutional officers and other top elected officials are calling on Governor Bruce Rauner to join the United States Climate Alliance following President Donald Trump’s decision to withdraw from the Paris climate agreement. “As governor, your decisions affect life within our borders and in the world at large, and many people throughout our state are looking for your leadership on this issue. To date, we have not heard your stand on this issue. We encourage you to join your peers from California, New York and Washington and…

CHICAGO — Illinois State Treasurer Michael Frerichs today announced sweeping changes to the Bright Start and Bright Directions college savings programs that will provide greater investment options at a lower price for more than 450,000 college savers. Bright Start Advisor accounts will be converted to higher-rated Bright Directions accounts. Bright Start Direct accounts will feature higher-rated investment options. As a result of the conversion, Bright Directions will become the only advisor-sold plan offered through the state of Illinois. This also will help reduce public confusion with Illinois’ direct-sold and advisor-sold…

SPRINGFIELD — Illinois’ credit rating has fallen so low that the state is too risky an investment for even itself, Comptroller Susana Mendoza and Treasurer Michael Frerichs announced Friday. The State Treasurer’s guidelines say the state should not invest in bonds with anything less than an A-minus rating. See guideline 5.0(k) . Moody’s and Standard & Poor’s both lowered the state’s credit rating to one level above junk- bond status Thursday after the Governor and the legislature failed to reach agreement on a budget before the scheduled end of the…