2022

SPRINGFIELD — Whether you’ve been saving for your children’s college education for years or just opened your 529 Bright Start account, you probably have some questions. Among them: How can I spend the savings on college, trade school or apprenticeships? What are the tax advantages? Illinois State Treasurer Michael Frerichs today announced a pair of free webinars that will provide some answers and let you ask questions of your own. “I applaud parents, grandparents and guardians for taking the responsible step of safely saving for their child’s future,” Frerichs said.…

SPRINGFIELD — Illinois’ unclaimed property program again set records for the amount of money returned and the number of claims paid during past year, Illinois State Treasurer Michael Frerichs said today. The program, also known as I-Cash, returned a record $280 million to taxpayers from July 1, 2021 through June 30, 2022, the state’s Fiscal Year 2022. The 362,352 claims paid during that time also is a record. The record-setting performance is the result of a complete restructuring of the unclaimed property process under Frerichs. The state treasurer’s office has…

SPRINGFIELD — Illinois State Treasurer Michael Frerichs today announced the winners of the 2022 Cream of the Crop Photo Contest, which encourages young photographers to share their vision of agriculture in our state. “Thank you to all of the talented young photographers who participated in this year’s Cream of the Crop Photo Contest and helped us to celebrate the contest’s 10th anniversary. Congratulations to the winners, who are being awarded Bright Start scholarship funds that they can use in the future for qualified expenses related to their post-secondary education,” Frerichs…

SPRINGFIELD — It’s an exciting time for high school seniors and their parents throughout Illinois. Students have walked the stage at graduation and chosen a college after months of deliberation. Now the university is asking for the first tuition payment to cover the fall semester. After years of socking away money and growing your nest egg through careful investment, it is finally time to make a withdrawal from your Bright Start 529 college savings plan. Illinois State Treasurer Michael Frerichs has some how-to tips to make the process easy. “Parents…

SPRINGFIELD — Illinois State Treasurer Michael Frerichs today announced the return of more than $45,000 to the American Cancer Society. The money came from two bank accounts belonging to Diane Koszyk of Elmwood Park, Illinois, and was turned over to the Illinois Treasurer’s Unclaimed Property Division after her death. Koszyk died in 2017, at age 78, in Seasons Hospice, which was then located at Weiss Memorial Hospital in Chicago. She had selected the American Cancer Society as beneficiary and co-beneficiary on savings and checking accounts with JPMorgan Chase & Co.…