2016

SPRINGFIELD — Radio Shack will surrender $140,000 in uncashed rebates owed to more than 5,000 Illinois residents, state Treasurer Michael Frerichs said today. Frerichs pursued Radio Shack because rebates checks are unclaimed property if not paid out within five years. Returning unclaimed property is a role of the Treasurer’s Office. “Big Corporations should not use rebate promotions as a bait-and-switch scheme,” Frerichs said. “This settlement allows us to actively locate the people who were wronged and return their money to them.” Radio Shack agreed to the settlement after the Treasurer’s…

SPRINGFIELD — “We took two very important steps today. We took a step closer to fulfilling our promise of helping families pay for college. Equally important, we also saw men and women from both parties work together to find common ground.” “We must invest in our college students and our higher education system because they propel our state forward. In the past year, I visited with hundreds of college students and administrators across our state. Their powerful stories of fear and uncertainty illustrate the critical need for collaboration.” “To be…

CHICAGO — Treasurer Michael Frerichs today urged volunteers to participate in Misericordia’s annual Candy Day fundraiser on April 29 and 30. More than 10,000 volunteers are needed in Chicago and the suburbs to pass out candy and informational tags in exchange for donations. Frerichs agreed to volunteer and urged others to do the same during a visit to the campus where he returned more than $15,000. “Mike’s willingness to help as an individual and to encourage others to volunteer is greatly appreciated,” said Sister Rosemary Connelly, executive director of Misericordia.…

SPRINGFIELD — Illinois families planning for the future well-being of a loved one with a disability will be able to leverage the investment power of a multi-state consortium to invest their money for disability-related expenses, Illinois Treasurer Michael Frerichs announced today. The consortium will manage a tax-advantage investment portfolio similar to those currently used to save for college, such as Illinois’ Bright Start or Bright Directions program. Without the consortium, individual states would lack the market share to ensure low cost and high quality investment options. “Every parent wants the…

SPRINGFIELD — Families will no longer be victimized by life insurance companies that refuse to pay death benefits, Illinois Treasurer Michael Frerichs said today. His remarks came after the Illinois House passed a measure pushed by Frerichs that requires insurers to use the federal Death Master File list to confirm if an inactive policy holder has died and the death benefits have not been paid. The House passed the proposal 75-34. The proposal now goes to the Senate, where insurance companies are lobbying for a weaker version. “I have never…