Illinois State Treasurer’s Office News Releases

Opening a new front at Facebook, Illinois State Treasurer Michael Frerichs, Rhode Island State Treasurer Seth Magaziner, Pennsylvania Treasurer Joe Torsella, and New York City Comptroller Scott Stringer today co-filed a shareholder proposal asking the Facebook board of directors to make the role of Board Chair an independent position. Doing so is best governance practice that will be in the interest of shareholders, employees, users, and our democracy. The shareholder proposal, led by Trillium Asset Management in June, focuses on Facebook missing, or mishandling, a number of severe controversies including:…

Frerichs Says Assets Brokered by Diverse Firms Grew from $603 Million to $35 Billion in 4 Years; New Legislation to Set Goals for Investments Becomes Law CHICAGO – Illinois State Treasurer Michael Frerichs today testified before the Senate Special Committee on State and Pension Fund Investments about the improvements made in the treasurer’s office to help increase growth and opportunity for Illinois firms owned by Minorities, Women, Veterans and Persons with a Disability (MWVD). “Our office has made it a priority to provide opportunities for MWVD firms to succeed in…

Treasurer Frerichs and Comptroller Mendoza Launch New Bill Backlog Program Taxpayers $70 Million Annually CHICAGO — A new investment vehicle allows the state treasurer’s office to provide money to the state comptroller’s office so it can chip away at the $7.7 billion bill backlog exacerbated during Illinois’ budget stalemate while increasing returns to the state’s own investment portfolio. The Investing in State Receivables Program, for the first time, allows the state treasurer’s office to invest in these past-due bills after striking an agreement with the state comptroller’s office that uses…