2016

SPRINGFIELD — Illinois State Treasurer Michael Frerichs today called on Kemper to detail its plan for “implementing enhancements to its life insurance claims procedures.” Kemper this week announced it will change how it uses the Death Master File List (DMF) to match unpaid life insurance policies with deceased customers. Kemper said it “is voluntarily undertaking a comprehensive process under which it will cross-reference its life insurance policies against the Social Security Death Master File and other databases to identify potential situations where beneficiaries may not have filed a claim following…

CHICAGO — Illinois State Treasurer Michael Frerichs today hosted a celebration at the James R. Thompson Center in Chicago to commemorate Hispanic Heritage Month. The event was an opportunity to reflect on the great achievements of Hispanics and Latinos and present awards to active leaders in the community. “It is important that every day we acknowledge the great achievements and contributions of our Hispanic and Latino neighbors,” Frerichs said. “Today, let us take a moment to recognize past and current leaders for their dedication to making our communities a better…

CHICAGO — Illinois Treasurer Michael Frerichs today hosted a Diverse Managers Forum in Chicago to help Minorities, Women, Veteran, Disabled (MWVD) owned investment firms better position themselves for business opportunities with the Treasurer’s Office and other institutional investors. The one-day event kicked off with a panel discussion led by Frerichs that included John Rogers of Ariel Investments, Kourtney Ratliff Gibson of Loop Capital, and Martin Cabrera of Cabrera Capital Markets. “We are proud to host today’s forum to help build connections with top- performing, diverse investment firms,” Frerichs said. “Using…

Springfield – Illinois Treasurer Michael Frerichs announced today a Request for Proposal (RFP ) for the Illinois Bright Start Direct College Savings Plan. The RFP will help identify a program manager that will assist in the Treasurer’s goal of helping families in Illinois save for college. The current contract expires July 2017. Among Treasurer Frerichs’ top priorities for the program are offering a quality, low-cost plan as well as a commitment to expand the college savings programs to underrepresented people to include minorities, low-income, and families outside of the Chicago…

SPRINGFIELD — Families have more protection from life insurance companies that use loopholes to avoid paying death benefits now that the Unclaimed Life Insurance Benefits Act was signed into law, Illinois Treasurer Michael Frerichs said today. Frerichs championed the legislation after learning some life insurance companies choose not to pay death benefits even when they know or should have known that a customer died. Instead, the companies rely upon this non-payment to fatten their profit margins. Since 2011, the treasurer’s office identified more than $550 million in life insurance proceeds…