2019

At last week’s annual meeting, Facebook (NASDAQ: FB) shareholders sent a dramatic message to the board and Mark Zuckerberg when a shareholder proposal recommending an independent board chair received a 68% vote of main street and Wall Street investors. Facebook shareholders overwhelmingly support a significant change at the company. It’s time for Mark Zuckerberg and the board to plan for a transition. “Now is the time for change,” said Illinois State Treasurer Michael Frerichs. “Facebook’s independent investors agree that it’s time for the company to separate the Board Chair and…

SPRINGFIELD — Illinois State Treasurer Michael Frerichs today encouraged families to open an Illinois 529 College Savings plan or make an additional contribution in honor of May 29, also known as 529 Day. “A child is three times more likely to attend college if they know they have a college savings plan,” Frerichs said. “A simple turn of the phrase like 529 Day is a fun way to remind children that they have a 529 account and the tools needed to succeed for their future.” Investments in a 529 college…

ROCK ISLAND — The Martin Luther King, Jr. Community Center is among 20 non-profit organizations to share more than $460,000 as recipients of the Charitable Trust Stabilization Fund in 2018, Illinois State Treasurer Michael Frerichs said today. The fund assists small non-profits with annual budgets of $1 million or less. Money comes from filing fees non-profits pay when incorporating in the state of Illinois, not personal or property tax dollars. “The Martin Luther King, Jr. Community Center is a vital asset to the Rock Island-area community,” Frerichs said. “We are…

SPRINGFIELD — A record-breaking $200 million in forgotten cash and securities has been returned to its owners during the past 10 months, Illinois State Treasurer Michael Frerichs said today. It is the largest amount in the program’s 58-year history. Such milestones typically are recorded in July to capture the state’s entire fiscal year, which is July 1-June 30. With two months remaining in the current fiscal year, that means the state treasurer’s office will shatter previous records set in fiscal years 2018, 2017 and 2016. “Reuniting people with their unclaimed…

SPRINGFIELD — Illinois State Treasurer Michael Frerichs today announced dates for the Illinois College Savings events 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. Sessions will run at the following dates and times: Tuesday, April 23 – Normal Tuesday, April 23 – Peoria Bloomington-Normal Marriott Hotel & Embassy Suites East Peoria | 100 Conference Center | 201 Broadway Avenue, Center Drive, Peoria, IL Normal, IL Registration: 1:00 p.m.…