2018

SPRINGFIELD — The new ‘Money Match II’ program will return lost money to Illinois residents without the usual need to gather paperwork or file an unclaimed property claim, Illinois State Treasurer Michael Frerichs said today. Cash values of between $5 and $49.99 could arrive in mailboxes before the holidays. A letter informing the 63,000 owners of the unexpected gift should arrive in mailboxes this week. “It is difficult to return money to people if they do not know that we are holding it for them,” Frerichs said. “This effort uses…

College Savings Events Set for Tax and Investment Professionals in Rock Island, Rockford, Chicago and Orland Park CHICAGO — Illinois State Treasurer Michael Frerichs today announced dates for the Illinois College Savings Summit to provide tax and investment professionals with important updates on Illinois’ Bright Start and Bright Directions college savings programs, both considered among the best in the country according to Morningstar. “We know that children are more likely to go to college if they know that they already have a college savings account in their name,” Frerichs said.…

CHICAGO — Illinois State Treasurer Michael Frerichs today announced that Illinois’ 529 College Savings plans, Bright Start and Bright Directions, earned top rankings from Morningstar, placing both plans among the best in the nation. Bright Start was one of only four 529 plans in the country to earn a Gold rating. “Since I took office, I’ve made it a priority to create college savings programs that Illinois can trust,” Frerichs said. “We are proud of these rankings and the progress we have made to improve our 529 plans and ensure…

Opening a new front at Facebook, Illinois State Treasurer Michael Frerichs, Rhode Island State Treasurer Seth Magaziner, Pennsylvania Treasurer Joe Torsella, and New York City Comptroller Scott Stringer today co-filed a shareholder proposal asking the Facebook board of directors to make the role of Board Chair an independent position. Doing so is best governance practice that will be in the interest of shareholders, employees, users, and our democracy. The shareholder proposal, led by Trillium Asset Management in June, focuses on Facebook missing, or mishandling, a number of severe controversies including:…

Frerichs Says Assets Brokered by Diverse Firms Grew from $603 Million to $35 Billion in 4 Years; New Legislation to Set Goals for Investments Becomes Law CHICAGO – Illinois State Treasurer Michael Frerichs today testified before the Senate Special Committee on State and Pension Fund Investments about the improvements made in the treasurer’s office to help increase growth and opportunity for Illinois firms owned by Minorities, Women, Veterans and Persons with a Disability (MWVD). “Our office has made it a priority to provide opportunities for MWVD firms to succeed in…