2019

Bi-Partisan Plan Should Reduce Taxes Needed for Safety Net Programs CHICAGO – A state-administered program designed to combat the retirement savings crisis threatening America boasts more than 32,000 new workers setting aside $8.5 million in retirement savings during its first year of operation, Illinois State Treasurer Michael Frerichs said today. The Illinois Secure Choice program specifically courts employment fields that typically do not offer a retirement savings vehicle for various reasons, including the employer cost to establish and operate a retirement program, federal regulations of such plans, and employee turnover.…

SPRINGFIELD — A statewide advertising and direct mail push began this week to reunite Illinois residents with more than $3 billion in unclaimed property, Illinois Treasurer Michael Frerichs said today. Frerichs drew attention to this advertising and mail blitz to reassure residents that this is legitimate and not a scam. “We hope our advertising and direct mail efforts encourage residents to claim their cash and property,” Frerichs said. “We are continuously trying new ways to spread the word about unclaimed property and make the claims process easier and faster.” This…

November 4, 2019 — Drug distributor Cardinal Health, Inc. [NYSE: CAH] is facing shareholder backlash over its decision to bring back former director J. Michael Losh to chair the board’s audit committee despite his lax performance in that role during the height of the opioid epidemic. State treasurers from Illinois, Connecticut, Rhode Island, and Vermont announced they voted against his nomination to the board ahead of the c ompany’s annual stockholders meeting on Wednesday, November 6, at Cardinal Health’s headquarters in Dublin, Ohio, and are urging others to do the…

CHICAGO — Illinois State Treasurer Michael Frerichs today announced that Illinois’ 529 College Savings Plans, Bright Start and Bright Directions, again have earned top rankings from Morningstar, placing both plans among the best in the nation. “Since I took office, I’ve made it a priority to create college savings programs that earn the trust of Illinois investors,” Frerichs said. “Saving for college is the best investment parents can make for their children’s future because it reduces the burden of long-term debt.” A child is three times more likely to attend…

SPRINGFIELD — The ‘Money Match’ program, which automatically returns lost money to Illinois residents without the usual need to gather paperwork or file a claim, is expected to automatically return nearly $1 million in unclaimed money to more than 8,000 residents, Illinois State Treasurer Michael Frerichs said today. “We are proud of the success of our Money Match program,” Frerichs said. “Since this program began last year, we have generated over 114,000 money match claims and returned more than 12 million dollars to residents without them submitting paperwork or filing…