2023

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Illinois Secure Choice Helps Address Retirement Savings Crisis as Key Deadline for Small Businesses Approaches

SPRINGFIELD — Nearly 129,000 Illinois workers already are saving for retirement courtesy of the Illinois Secure Choice program, and now a key deadline is approaching for small employers to help even more employees do the same. Under state law, businesses that had between 5 and 15 employees last year have until Nov. 1, 2023 to help their workers access a retirement savings option by either signing up for Illinois Secure Choice or offering a private retirement plan. “There is a growing recognition that many workers understand that Social Security alone…

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Treasurer Frerichs Makes Record $124.6 Million In Investment Earnings For State Portfolio During August

SPRINGFIELD — The State Treasurer’s Office made a record $124.6 million in investment earnings from the state investment portfolio in August, Illinois Treasurer Michael Frerichs announced today. Another $91.7 million in gross investment earnings was earned for cities, villages, school districts, counties and other units of government that take part in the highly rated Illinois Funds local government investment pool operated by the State Treasurer’s Office. “Every dollar we make through smart, safe investing is a dollar that does not need to be raised in taxes,” Treasurer Frerichs said. “The…

Read MoreTreasurer Frerichs Makes Record $124.6 Million In Investment Earnings For State Portfolio During August
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Illinois State Treasurer Michael Frerichs On the Passing of Representative Bill Black

SPRINGFIELD — I had the privilege of knowing and working with Bill Black and the honor to call him a friend. My heart goes out to Sharon and all of Bill’s family on his passing. I was blessed to have Bill as a mentor when I was elected to the State Senate. The Republican Representative from Danville and the Democratic Senator from Champaign were able to get a lot done for our constituents in Champaign and Vermillion counties. Bill was a loyal Republican, who frequently served as a floor leader…

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Treasurer Frerichs Returns Nearly $800,000 in Unclaimed Property at the 2023 Illinois State Fair and DuQuoin State Fair

SPRINGFIELD — State Treasurer Michael Frerichs announced today that almost $800,000 in unclaimed property –more than $515,000 in cash payments and $273,000 in stock value –are on the way to the rightful owners because of his office’s outreach efforts at the Illinois and DuQuoin State Fairs. “This level of success reflects the hard work we do in my office,” Frerichs said. “A key part of my job as Treasurer is to do whatever we can to return unclaimed property to the proper owners or their heirs. My staff and I…

Read MoreTreasurer Frerichs Returns Nearly $800,000 in Unclaimed Property at the 2023 Illinois State Fair and DuQuoin State Fair
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Treasurer Frerichs Expands Outreach Efforts For IL ABLE Savings Program

SPRINGFIELD — As students head back to school, parents of children with Individualized Education Plans will receive information about a State Treasurer’s Office program that helps families save money for disability-related expenses. For the first time, Illinois school districts are required by law to include material about the Illinois ABLE (Achieving a Better Life Experience) program as part of a student’s IEP review meeting. “We want more families to be aware of an important program that allows them to save for their child’s future,” said Illinois Treasurer Michael Frerichs, whose…

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