2018

New, Commonsense Approach Uses Technology to Identify Sole Owners of $2,000 or Less in Cash Approximate Value in Adams County: $38,880 QUINCY — The new ‘Money Match’ program will automatically return lost money to Illinois residents without the usual need to gather paperwork or file a claim, Illinois State Treasurer Michael Frerichs said today. The ‘Money Match’ program uses existing technology and state records to match unclaimed cash with Illinois residents. The property must be $2,000 or less in cash with only one owner. The goal is to return more…

New, Common-Sense Approach Uses Technology to Identify Sole Owners of $2,000 or Less in Cash Approximate Value in Champaign County: $210,755 CHAMPAIGN — The new ‘Money Match’ program will automatically return lost money to Illinois residents without the usual need to gather paperwork or file a claim, Illinois State Treasurer Michael Frerichs said today. The ‘Money Match’ program uses existing technology and state records to match unclaimed cash with qualifying Illinois taxpayers. The property must be $2,000 or less in cash with only one owner. The goal is to return…

Rauner Action Likely Unconstitutional SPRINGFIELD — In a blatant display of financial mismanagement, Gov. Rauner used an amendatory veto to block a state treasurer’s initiative that would allow the office to purchase a building so it can consolidate leases and save $420,000 each year, Illinois State Treasurer Michael Frerichs said today. The amendatory veto is likely unconstitutional because Rauner gutted bipartisan legislation and instead inserted language to rewrite the state’s unclaimed property laws. Amendatory vetoes cannot substitute a completely new bill. Rauner’s rewrite deletes the text of the entire underlying…

SPRINGFIELD — Governor Rauner today signed a bipartisan measure that will pay overdue bills, earn a higher interest rate for state investments and save taxpayers up to $100 million each year. Illinois State Treasurer Michael Frerichs was the driving force behind SB 2858, which will allow the Treasurer’s Office to invest in the state’s unpaid receivables. In doing so, late bills will be paid more quickly, allowing the state to avoid interest penalties of up to 12 percent. The bipartisan bill passed the Senate 49-1 and the House 115-0. “When…

SPRINGFIELD — Illinois State Treasurer Michael Frerichs and staff will attend the Sandwich Fair to inform attendees about office programs that invest in their families. The treasurer’s booth will be at B1-24. “The Sandwich Fair has a tradition of excellence and brings together generations of family and friends,” Frerichs said. “We find settings that feature family fun are perfect to introduce our programs that help families save for college, individuals with a disability save for therapy, and workers save for retirement.” College savings: Changes to the Bright Start and Bright…