Illinois State Treasurer’s Office News Releases

SPRINGFIELD — Giving the gift of college savings this holiday season is a great way to inspire students to attend a college, university, or vocational school, Illinois State Treasurer Michael Frerichs said today. A child is three times more likely to attend college if they know that they have a dedicated college savings account, according to research from the Center of Social Development at Washington University in St. Louis. Ensuring nationally recognized 529 programs is one-way Frerichs’ office makes college more accessible. “We encourage family and friends to contribute to…

CHICAGO — Facebook’s turmoil, controversy, and governance failures are among the litany of reasons the social media giant needs an independent board chair, Illinois State Treasurer Michael Frerichs said today. Frerichs leads a group of institutional investors who filed a proposal to separate the Chief Executive Officer (CEO) and board chair roles at Facebook, which are held by Mark Zuckerberg. The proposal will go before a vote at Facebook’s 2021 Annual Shareholder Meeting. “Too much control given to one person is not a good model for any company and Facebook…

CHICAGO — Illinois State Treasurer Michael Frerichs this week testified before the Senate Special Committee on Pension Investments about the improvements made in the treasurer’s office to increase growth and opportunity for Illinois firms owned by minorities, women, veterans and persons with a disability (MWVD). “As an institutional investor, it is important that we demand an increase in the use of diverse firms, board diversity, and opportunities for growth in the final services industry,” Frerichs said. “We know first-hand that change can happen because we did it in our office…