Illinois State Treasurer’s Office News Releases

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TIAA was awarded long-term contract to manage the plan, the nation’s sixth largest direct-sold plan with more than $12 billion in assets (Video files will be uploaded here: ) Families with a Bright Start College Savings Program (Bright Start 529) will soon pay lower fees, gain access to low-cost, high-quality investments, and manage their accounts on a new phone app, Illinois State Treasurer Michael Frerichs announced Thursday. “We worked to ensure that more of a family’s hard-earned savings goes toward the cost of college or a vocational school,” Frerichs…

The State Treasurer’s Office made a record $1.495 billion in investment earnings from the state investment portfolio during Fiscal Year 2024, Illinois Treasurer Michael Frerichs announced today. Treasurer Frerichs is the state’s Chief Investment and Banking Officer. He is responsible for investing state revenue in the state investment portfolio. “We have made common-sense reforms to increase how much we earn in investment returns for our state,” Frerichs said. “Every dollar we earn in interest is a dollar that lawmakers don’t have to raise in taxes.” Also in Fiscal Year 2024,…