2018

SPRINGFIELD — Illinois State Treasurer Michael Frerichs today reminded military families that the treasurer’s office holds more than 100 military medals that were surrendered as unclaimed property. The medals, typically forgotten inside a bank safe deposit box or abandoned at a storage facility, were surrendered to the state treasurer’s office after there had been no contact with their owners for at least five years. “Memorial Day is a time to honor the sacrifices of our military members and their families,” Frerichs said. “These medals are a daily reminder of the…

SPRINGFIELD — Illinois State Treasurer Michael Frerichs today issued a statement after the Supreme Court of the United States voted 5 – 4 that employers can require workers to accept individual arbitration for wage and other workplace disputes rather than class-action lawsuits. “Today’s Supreme Court ruling is disappointing, but not unexpected,” Frerichs said. “To allow companies to force individual workers into arbitration is an assault on working people. Justice Gorsuch’s majority opinion denies the protections of federal labor laws to tens of millions of hard working employees.” The U.S. Supreme…

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, now considered among the best in the country. “We know that children are more likely to go to college if they know that someone opened a college savings account for them,” Frerichs said. “We encourage financial advisors and investment professionals to attend and learn more about these opportunities for the families they serve.” Professionals will…

SPRINGFIELD — Illinois State Treasurer Michael Frerichs today lauded top proxy advisors, Institutional Shareholder Services (ISS) and Glass Lewis, for supporting a shareholder proposal co-filed by Frerichs asking Facebook to review its content policies to mitigate material risks and protect shareholder value. Frerichs has also continuously called for corporations, including Facebook, to amend their corporate bylaws to require the Board Chair be independent from the CEO to improve oversight and risk management. “Facebook continues to put its investors at risk,” said Frerichs. “Now is the time for change. We need…

SPRINGFIELD — A statewide digital media, newspaper and direct mail push is underway to reunite residents with more than $2 billion in unclaimed property, Illinois State Treasurer Michael Frerichs today. Frerichs drew attention to the advertising blitz to reassure residents that the unclaimed property effort is legitimate and not an elaborate hoax. The treasurer’s office never charges a fee to search for, and return, unclaimed property. “For most people, it is difficult to believe that they might have overlooked an investment account or forgot to pick up a final paycheck.…