Illinois State Treasurer’s Office News Releases

Frerichs Says Assets Brokered by Diverse Firms Grew from $603 Million to $35 Billion in 4 Years; New Legislation to Set Goals for Investments Becomes Law CHICAGO – Illinois State Treasurer Michael Frerichs today testified before the Senate Special Committee on State and Pension Fund Investments about the improvements made in the treasurer’s office to help increase growth and opportunity for Illinois firms owned by Minorities, Women, Veterans and Persons with a Disability (MWVD). “Our office has made it a priority to provide opportunities for MWVD firms to succeed in…

Treasurer Frerichs and Comptroller Mendoza Launch New Bill Backlog Program Taxpayers $70 Million Annually CHICAGO — A new investment vehicle allows the state treasurer’s office to provide money to the state comptroller’s office so it can chip away at the $7.7 billion bill backlog exacerbated during Illinois’ budget stalemate while increasing returns to the state’s own investment portfolio. The Investing in State Receivables Program, for the first time, allows the state treasurer’s office to invest in these past-due bills after striking an agreement with the state comptroller’s office that uses…

New, Commonsense Approach Uses Technology to Identify Sole Owners of $2,000 or Less in Cash Approximate Value in Cook County: $6,885,020 CHICAGO — The new ‘Money Match’ program will automatically return lost money to Illinois residents without the usual need to gather paperwork or file a claim, Illinois State Treasurer Michael Frerichs said today. The ‘Money Match’ program uses existing technology and state records to match unclaimed cash with qualifying Illinois taxpayers. The property must be $2,000 or less in cash with only one owner. The goal is to return…