2020

SPRINGFIELD — Giving the gift of college savings this holiday season is a great way to inspire students to attend a college, university, or vocational school, Illinois State Treasurer Michael Frerichs said today. A child is three times more likely to attend college if they know that they have a dedicated college savings account, according to research from the Center of Social Development at Washington University in St. Louis. Ensuring nationally recognized 529 programs is one-way Frerichs’ office makes college more accessible. “We encourage family and friends to contribute to…

CHICAGO — Facebook’s turmoil, controversy, and governance failures are among the litany of reasons the social media giant needs an independent board chair, Illinois State Treasurer Michael Frerichs said today. Frerichs leads a group of institutional investors who filed a proposal to separate the Chief Executive Officer (CEO) and board chair roles at Facebook, which are held by Mark Zuckerberg. The proposal will go before a vote at Facebook’s 2021 Annual Shareholder Meeting. “Too much control given to one person is not a good model for any company and Facebook…

CHICAGO — Illinois State Treasurer Michael Frerichs this week testified before the Senate Special Committee on Pension Investments about the improvements made in the treasurer’s office to increase growth and opportunity for Illinois firms owned by minorities, women, veterans and persons with a disability (MWVD). “As an institutional investor, it is important that we demand an increase in the use of diverse firms, board diversity, and opportunities for growth in the final services industry,” Frerichs said. “We know first-hand that change can happen because we did it in our office…

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 return $1.2 million in unclaimed money to nearly 13,000 residents in the coming weeks, Illinois State Treasurer Michael Frerichs said today. “We want to make every effort to return unclaimed cash to Illinois taxpayers, especially now when families are dealing with the impact of a global pandemic and the holidays on the horizon,” Frerichs said. “We are sending out thousands of letters…

CHICAGO — Illinois State Treasurer Michael Frerichs today announced that Illinois’ 529 college savings plan, Bright Start, again earned a top ranking from Morningstar, one of only three Gold-rated 529 plans in the country. “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 college if…