Illinois State Treasurer’s Office News Releases

Treasurer Frerichs smiles as he speaks from a podium. Backdrop has the Bright Start logo

Treasurer Frerichs Clinches 7th Gold Rating for Bright Start College Savings Plan

Illinois State Treasurer Michael Frerichs announced today that Illinois’ Bright Start 529 College Savings Plan has earned its 7th Gold rating from independent analyst Morningstar, firmly placing the plan among the best in the nation. “To be touted as one of the nation’s best by Morningstar for the seventh time under my watch confirms from an independent source that Illinois’ 529 College Savings plans are a great investment for Illinois families,” Frerichs said. “Since taking office, my priority has been to ensure Illinois families have access to the highest quality…

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A group of people watch as Treasurer Frerichs presents a Purple Heart to Patty Knies, whose late uncle earned it

Illinois Treasurer Michael Frerichs Returns WW II Purple Heart Medal to Family of Late Veteran at Ceremony in Oak Lawn Ahead of Veterans Day

OAK LAWN, ILLINOIS – On the day before Veterans Day, Illinois State Treasurer Michael Frerichs returned a lost Purple Heart medal to the niece of a World War II veteran who was injured while fighting in France and Germany. Frerichs reunited Army Rifleman James R. Bennett’s medal with niece, Patti Knies, during a ceremony at VFW Post 5220 in Oak Lawn. It is the 17th lost medal Frerichs has returned as part of Operation Purple Heart , an unprecedented mission to reunite the military honor with the rightful owners. The…

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Illinois government offices building in Springfield Illinois

Treasurer Michael Frerichs Statement on the $1.5 Billion Transit Package Approved by the Illinois General Assembly

Before they adjourned for the year, Illinois state lawmakers approved a $1.5 billion funding package to reform and rebuild public transit. Part of the plan is to earmark money that the Illinois Treasurer’s Office earns from investing revenues from the Road Fund and another transportation-related fund. I appreciate the Governor and General Assembly coming together to address mass transit needs, as well as their confidence in me. But it is unlikely we can continue to generate $200 million in annual interest earnings. President Trump’s pressure campaign on the Federal Reserve…

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Treasurer Michael Frerichs smiling against a backdrop of Chicago

Treasurer Michael Frerichs’ Office Publishes Annual Report on Small Business Spending

Treasurer Michael Frerichs’ Office Publishes Annual Report on Small Business Spending Illinois State Treasurer Michael Frerichs’ office increased its small business spending by more than 37 percent from Fiscal Year 2024 to Fiscal Year 2025, a new report states. During Fiscal Year 2025, the Treasurer’s Office spent a total of $1,346,772.54 on contracts and other purchases with small businesses, which represents more than 5 percent of the Office’s overall contract and purchase spending of $24,386,667.87. For comparison, spending during Fiscal Year 2024 totaled $978,370.74. The information is included in the…

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Illinois State Flag featured next to a white Spanish Colonial Revival style building

Illinois State Treasurer Michael Frerichs Announces $50 Million Loan Program to Help Federal Workers During Shutdown

Illinois State Treasurer Michael Frerichs Announces $50 Million Loan Program to Help Federal Workers During Shutdown An estimated 153,000 Federal Workers in Illinois Illinois State Treasurer Michael Frerichs is committing $50 million to fund zero-interest and low-interest loans to unpaid federal workers during the government shutdown. The loans will be issued through participating banks and credit unions across Illinois, with money made available through the Treasurer’s linked-deposit program. An estimated 153,000 federal employees live and work in Illinois. It is uncertain how many are not receiving their salaries since Oct.…

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