Illinois State Treasurer’s Office News Releases

SPRINGFIELD — Illinois State Treasurer Michael Frerichs today hailed lawmakers for passing legislation that would gradually increase the statewide minimum wage to $15 per hour by 2025. The Illinois House approved the measure today. The Senate approved it last week. It now goes to Gov. JB Pritzker, whose signature is expected. “This is a great day for working families across our state. This is the first increase in the minimum wage in nearly 10 years. Larger paychecks will help lift working people out of poverty and lead to increased economic…

MARION — Treasurer Michael Frerichs today joined the Illinois Hunger Coalition and the United Way of Southern Illinois to encourage local not-for-profit organizations to apply for grant money through the Charitable Trust Stabilization Fund. The application process is open now through March 31, 2019. 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 Charitable Trust Stabilization Fund is specifically designed and committed to helping small…

SPRINGFIELD — The new ‘Money Match II’ program will return lost money to Illinois residents without the usual need to gather paperwork or file an unclaimed property claim, Illinois State Treasurer Michael Frerichs said today. Cash values of between $5 and $49.99 could arrive in mailboxes before the holidays. A letter informing the 63,000 owners of the unexpected gift should arrive in mailboxes this week. “It is difficult to return money to people if they do not know that we are holding it for them,” Frerichs said. “This effort uses…

College Savings Events Set for Tax and Investment Professionals in Rock Island, Rockford, Chicago and Orland Park CHICAGO — Illinois State Treasurer Michael Frerichs today announced dates for the Illinois College Savings Summit 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. “We know that children are more likely to go to college if they know that they already have a college savings account in their name,” Frerichs said.…