Unanimous Vote Recognizes Frerichs’, Illinois’ Achievements
SPRINGFIELD — Illinois State Treasurer Michael Frerichs was unanimously elected president of a bipartisan organization that brings together state finance officials to address government financial management issues.
Frerichs’ Democratic and Republican colleagues from across the country picked him to be president of the National Association of State Auditors, Comptrollers and Treasurers (NASACT), the group announced today.
“It’s such an honor that my peers chose me to lead this bipartisan organization that works to solve the challenges of government,” said Frerichs, who had been the organization’s treasurer. “Making sure state governments work for the people is not a Republican or Democratic issue, and I’m especially proud that colleagues across the aisle supported my election as NASACT president.” The election caps Frerichs’ ascension within the organization. After less than a year as Illinois State Treasurer, Frerichs’ peers selected him in 2015 to join the NASACT Executive Committee.
In 2016, Frerichs received the NASACT president’s award. The late Judy Baar Topinka, a popular former Republican Illinois state treasurer and comptroller, received that same award in 2015.
In addition to his NASACT role, Treasurer Frerichs was elected by his bipartisan peers to serve as secretary-treasurer of the National Association of State Treasurers (NAST) in 2021. He serves on the NAST Executive, Long-Range Planning, and Diversity, Equity and Inclusion Committees.
About the Illinois Treasurer As Illinois State Treasurer, Michael Frerichs (FRAIR'-iks) is the state’s Chief Investment and Banking Officer and actively manages approximately $52 billion. The portfolio includes $27 billion in state funds, $16 billion in retirement and college savings plans and $9 billion on behalf of local and state governments. Frerichs’ office protects consumers by safeguarding more than $3.5 billion in unclaimed property, encouraging savings plans for college or trade school, increasing financial education among all ages, assisting people with disabilities to save while preserving their government benefits, and removing barriers to a secure retirement. The Treasurer’s Office predates Illinois incorporation in 1818. Voters in 1848 chose to make it an elected office.
-END-