Illinois State Treasurer’s Office News Releases

Shermann Dilla Thomas speaks at a microphone as Treasurer Frerichs and another man watch

Illinois Treasurer Michael Frerichs Unveils New Investment Program to Build Affordable Housing

Illinois Treasurer Michael Frerichs today unveiled a new community investment program designed to build affordable housing, help nonprofits, and generate returns for the state. Frerichs invested $10 million with IFF , a Chicago-based Community Development Financial Institution that promotes economic development by providing financing and real estate consulting across the Midwest to nonprofits and people underserved by traditional financial institutions, particularly in low-income communities. On Tuesday, Frerichs highlighted one of the first completed projects, the new South Side headquarters of the Chicago Mahogany Foundation , award-winning Chicago historian Shermann “Dilla”…

Read MoreIllinois Treasurer Michael Frerichs Unveils New Investment Program to Build Affordable Housing
About 20 people standing and posing in front of a curtain on a stage

Illinois Among Founding Partners of New Consortium to Expand Participation in 529 Education Savings Plans

State Treasurer Michael Frerichs Proposed the Idea While Serving as President of the National Association of State Treasurers Chicago, IL — Today, these founding institutions announce the formation of the National Consortium on Education Savings Research (529 Consortium) , a multi-institution research partnership designed to increase understanding of and participation in education savings plans, especially among underserved and underrepresented families. The 529 Consortium brings together leading researchers, state treasurers and other state sponsors, and program administrators to build an integrated data infrastructure and conduct policy-relevant research on education savings initiatives.…

Read MoreIllinois Among Founding Partners of New Consortium to Expand Participation in 529 Education Savings Plans
Illinois state flag with eagle and shield

Illinois Treasurer Michael Frerichs Announces New Grants to Address Hunger After Federal Cuts

Illinois State Treasurer Michael Frerichs today announced a new grant program to help volunteer groups battling hunger and food insecurity in the wake of federal government cuts to critical food programs. Charitable Trust Hunger Relief Grants provide up to $5,000 to volunteer-driven food pantries, soup kitchens, and similar nonprofit organizations with no full-time employees. Frerichs launched the grant program after the Trump administration cut funding for the Supplemental Nutritional Assistance Program (SNAP) and a program that allowed Illinois farmers to sell their fresh food to Meals on Wheels and food…

Read MoreIllinois Treasurer Michael Frerichs Announces New Grants to Address Hunger After Federal Cuts
Illinois government offices building in Springfield Illinois

Treasurer Frerichs Wins Approval of Bill to Help Nonprofits Increase Investment Opportunities

SPRINGFIELD – Illinois State Treasurer Michael Frerichs thanked members of the General Assembly today for passing Senate Bill 2968 and expressed gratitude to Governor JB Pritzker’s office for its collaboration in advancing legislation that expands investment opportunities for non-profit organizations across Illinois. The legislation creates the Non-Profit Investment Pool, a safe and efficient investment option allowing eligible nonprofits to make the most of available funds while reducing administrative burdens. The measure is intended to help nonprofits strengthen their financial stability and maximize resources that support communities throughout the state. “Nonprofits…

Read MoreTreasurer Frerichs Wins Approval of Bill to Help Nonprofits Increase Investment Opportunities
Child holding a blue piggy bank. In the background are logos for Bright Start 529 and Bright Directions 529

In Observance of National 529 Day, Illinois Treasurer Michael Frerichs Encourages Families to Save for Higher Education Costs

SPRINGFIELD – Illinois State Treasurer Michael Frerichs is recognizing 529 Day today, May 29, by encouraging families to save for future education through Illinois’ highly rated Bright Start 529 or Bright Directions 529 college savings plans. Frerichs also announced new enhancements to the advisor-guided Bright Directions 529 plan. “While ‘529 Day’ is tied to the calendar date of May 29, the observance highlights the importance of planning ahead and making education more affordable for Illinois families. It’s always a good time to plan for the future by opening or adding…

Read MoreIn Observance of National 529 Day, Illinois Treasurer Michael Frerichs Encourages Families to Save for Higher Education Costs