2024

SPRINGFIELD — Bright Start has been named the nation’s Best 529 College Savings Plan for 2024 by Business Insider, Illinois State Treasurer Michael Frerichs announced today. “It’s important to note that not all 529 accounts are built the same,” Business Insider wrote. “The best state 529 plans have low minimum requirements, low fees, diverse investment options and a tax deduction benefit.” State Treasurer Frerichs said he appreciates the recognition for the Office’s work on Bright Start, which has gone from one of the nation’s worst college savings plans before he…

SPRINGFIELD — Illinois State Treasurer Michael W. Frerichs is warning that a potential federal government shutdown would harm Illinois families, workers, veterans and businesses, as well as the entire U.S. economy. The federal government is poised to shut down in two stages – with the first occurring this weekend – if the U.S. House and Senate cannot agree on a spending plan by the end of this week. “Members of Congress must do their job and govern, even when that means making difficult decisions. House Republicans, in particular, must back…

SPRINGFIELD — The State Treasurer’s Office has made more than $3 billion in investment earnings from the state investment portfolio during Illinois Treasurer Michael Frerichs’ tenure. An additional $1.75 billion in gross investment earnings has been earned for cities, villages, school districts, counties and other units of government that take part in the highly rated Illinois Funds local government investment pool operated by the State Treasurer’s Office. “Every dollar we make is a dollar that does not need to be raised in taxes,” Treasurer Frerichs said in announcing the financial…

SPRINGFIELD — The Illinois State Treasurer’s Office returned nearly $17.2 million in missing money during January, Illinois Treasurer Michael Frerichs announced today. The total includes more than $15.7 million in cash and interest and more than $1.4 million in stock value. All told, 25,434 claims were paid. “Putting money back in the hands of people is better for our state’s economy than letting it sit in a bank,” Frerichs said. “You can check our website any time, enter your name, and find out if you or someone you know has…

HOMEWOOD — Illinois State Treasurer Michael Frerichs and State Rep. Will Davis teamed up to return more than $13,700 in missing money to the Homewood Fire Department. The returned funds were from a claim the Homewood Fire Department filed for money from a vendor, Motorola Solutions. The unclaimed property ended up at the Illinois Treasurer’s Office, which administers the I-CASH program. Helping the Homewood Fire Department had special meaning for Frerichs, a former volunteer firefighter in Gifford, the central Illinois town where he grew up. “Firefighters are vital to the…