Illinois State Treasurer’s Office News Releases

4 Treasurer Frerichs Drops Lawsuit as Kemper Agrees to Audits to Find Unpaid Life Insurance Policies 264,000 Kemper policies to be examined by Treasurer’s auditors SPRINGFIELD – Three life insurance companies have reversed course and agreed to allow auditors to examine their records to identify death benefits that should have been paid to families whose loved ones died years ago, Illinois State Treasurer Michael Frerichs said today. Auditors working on behalf of Frerichs’ office will examine approximately 264,000 policies as part of their unclaimed property examination of the Kemper companies.…

MOLINE — Illinois State Treasurer Michael Frerichs today announced a comprehensive loan program that commits $500 million in new money to flow through local banking institutions to help individuals obtain loans at below-market rates. “I was born and raised in the small community of Gifford and know first-hand the importance of providing a financial opportunity for rural Illinois to sustain, grow, and spur economic development,” Frerichs said. “We will provide money to local lenders so they can offer loans at below-market rates to help our rural families achieve the American…

SPRINGFIELD — Three hundred people with disabilities in Illinois invested more than $1.3 million in the first year of a groundbreaking partnership that fosters independence for people who have disabilities, Illinois State Treasurer Michael Frerichs said today. The Illinois Achieving a Better Life Experience (ABLE) program allows investors to set aside up to $15,000 in private funds each year without jeopardizing their federal benefits. Prior to ABLE, a person with a disability could not have a net worth exceeding $2,000, leaving many individuals in a chronic state of poverty with…