Illinois State Treasurer’s Office News Releases

SPRINGFIELD — More women and minorities need to serve on corporate boards, Illinois State Treasurer Michael Frerichs said today. Frerichs will use his role as Illinois’ chief investment officer to encourage greater boardroom diversity. A corporate board without women and minorities typically does not reflect its employees and customers. As such, the likelihood is great for missed opportunities and growth, especially in shareholder value. “We know that diversity is good for business. We also know that change is hard, especially inside our nation’s boardrooms,” Frerichs said. “Many corporate leaders agree…

SPRINGFIELD — President Donald Trump’s administration needs to plainly say if it intends to crack down on the medical marijuana industry in Illinois, State Treasurer Michael Frerichs said today. The administration’s comment of “greater enforcement” of laws that could close banks that have a relationship with the legal medical marijuana trade needlessly injects uncertainty into the industry. The ambiguous “greater enforcement” also could be used to shutter legal cultivators, wholesalers and retailers in Illinois. Finally, it is unclear what enforcement action could be taken against doctors who prescribe medical marijuana…

CHICAGO — After the U.S. House of Representatives recently fast -tracked a measure that aims to prevent states from creating their own workplace savings programs, AARP Illinois and State Treasurer Michael W. Frerichs today led a press conference urging the U.S. Senate to defeat the legislation and protect the ability of millions of employees to save for a secure retirement, including through Illinois’ very own Secure Choice Program. The Congressional Review Act, H.J. Resolutions 66 and 67 w ere passed by the U.S. House of Representatives, seeking to overturn a…