Illinois State Treasurer’s Office News Releases

SPRINGFIELD — “Thank you to the Illinois House of Representatives for siding with grieving families and overriding Governor Bruce Rauner’s amendatory veto of House Bill 302. For decades, greedy life insurance companies have gotten away with using loopholes to pad their bottom line by avoiding paying grieving families. Today’s action is a major step forward to help put a stop to this trend and require life insurance companies to pay what is owed to beneficiaries dating back to 2000.” “I want to offer a special thanks to the House sponsor,…

CHICAGO — Illinois Treasurer Michael Frerichs today announced that Illinois’ Bright Start College Savings Program is now, for the first time in history, a Gold-rated program, according to Morningstar. Morningstar, which evaluates and rates college savings plans, released its results Tuesday, rating Bright Start a “Gold-Rated Fund”. According to Morningstar, Bright Start is one of the four highest rated plans in the country. “We are always looking for ways to improve our 529 programs and make them the best in the country,” Treasurer Frerichs said. “Over the last two years,…

SPRINGFIELD — As Illinois lawmakers consider an override of Governor Bruce Rauner’s amendatory veto of House Bill 302, Chicago-based Kemper Corporation still refuses to allow an audit to confirm it is paying death benefits owed to Illinois residents. Illinois State Treasurer Michael Frerichs today resumed litigation in a Sangamon County court to force the examination of Kemper’s books. In November 2015, three companies, which are part of Kemper, sued Frerichs to challenge his authority to perform audits. The lawsuit by Kemper was withdrawn earlier this year, but the issue remains…