Illinois State Treasurer’s Office News Releases

SPRINGFIELD — Illinois State Treasurer Michael Frerichs today applauded Gov. Rauner’s decision to finally agree to refinance debt that carried a staggering 12 percent interest rate. “Gov. Rauner finally made a good decision. It is frustrating to know that his delay likely cost taxpayers $62 million in interest payments,” Frerichs said. Illinois’ $15 billion bill backlog borrows money from unwilling lenders because it does not pay vendors. These unpaid bills accrue interest rates as high as 12 percent. The interest payments alone equate to $2 million each day. Gov. Rauner’s…

September 5, 2017 — Drug companies Cardinal Health and AmerisourceBergen must act to address the heroin and opioid epidemic or face potential financial consequences in their stock prices, state treasurers from Illinois, Pennsylvania, West Virginia and California said today. In letters sent to both companies, the coalition of state treasurers urged the nation’s second and third largest drug distributors to take concrete steps to alleviate the heroin and opioid epidemic. Should no action be taken, each treasurer’s office would re-evaluate its financial position in the companies and strongly encourage other…

CHICAGO — Governor Bruce Rauner’s amendatory veto of the Life Insurance Reform Act guarantees life insurance companies will pocket millions of dollars rather than pay death benefits to grieving families, Illinois State Treasurer Michael Frerichs said today. Freri chs called upon the General Assembly to override the veto because paying death benefits should not be a partisan issue. “Governor Rauner chose special interests over real people,” Frerichs said. “Common sense says that when a loved one dies the family should be paid.” Currently, some life insurance companies do not pay…