Illinois State Treasurer’s Office News Releases

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Treasurer Frerichs’ Statement on the Passing of Former U.S. House Republican Leader Bob Michel

SPRINGFIELD — Illinois State Treasurer Michael Frerichs’ statement on the passing of former U.S. House Republican Leader Bob Michel: “Illinois has lost a true gentleman and leader. Bob’s demeanor and ability to listen created an era that refused to allow political gamesmanship to overwhelm common decency and respect. “He was a strong conservative who knew he did not have to shout to be heard. His service to our country, on the battlefield and in Congress, is a testament to servant leadership that benefited our entire country, not just his hometown…

Read MoreTreasurer Frerichs’ Statement on the Passing of Former U.S. House Republican Leader Bob Michel
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State Treasurers, U.S. Senator Burr, and Advocacy Groups Join Forces to Raise Awareness for Investment Program to Benefit Children, Adults with a Disability or Blindness

13-State Alliance Will Offer ABLE Investment Accounts to Help Families Save for Better Future WASHINGTON, D.C. – Illinois Treasurer Michael Frerichs joined members of the National Achieving a Better Life Experience (ABLE) Alliance, U.S. Senator Richard Burr (R-NC), and advocates of people with disabilities in Washington, D.C. today to tout a new investment program for people with a disability or blindness that does not jeopardize their federal disability benefits. ABLE accounts are now available in multiple states across the country. The ABLE Alliance is led by Illinois and serves as…

Read MoreState Treasurers, U.S. Senator Burr, and Advocacy Groups Join Forces to Raise Awareness for Investment Program to Benefit Children, Adults with a Disability or Blindness
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Illinois State Treasurer Michael Frerichs’ Statement on Fitch Ratings’ Decision to Lower Credit Rating

SPRINGFIELD — Illinois State Treasurer Michael Frerichs today released the following statement after Fitch Ratings’ decision to lower Illinois’ credit rating. It is the sixth time an agency downgraded Illinois’ creditworthiness since 2015. “Our credit rating suffers because the leaders in the General Assembly and the Governor will not negotiate an honest budget,” Frerichs said. “This singular focus on non-budgetary items is silently ripping money out of the pockets of everyone who lives in this state.” “Borrowing costs money. Borrowing without a budget costs even more money. We know a…

Read MoreIllinois State Treasurer Michael Frerichs’ Statement on Fitch Ratings’ Decision to Lower Credit Rating
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Treasurer Frerichs Launches New Investment Program for Children and Adults with a Disability or Blindness

CHICAGO — Illinois State Treasurer Michael Frerichs today announced a groundbreaking partnership that brings together 14 states to encourage individuals to invest money on behalf of people with a disability or blindness without jeopardizing their federal disability benefits. Illinois leads the National Achieving a Better Life Experience (ABLE) Alliance, the country’s largest multi-state agreement for these special investment tools that allow for tax-free investment growth when proceeds are spent on qualifying disability-related expenses. Today’s announcement culminates nearly two years of negotiations and additional states also can join the Illinois-led group.…

Read MoreTreasurer Frerichs Launches New Investment Program for Children and Adults with a Disability or Blindness