Illinois State Treasurer’s Office News Releases

CHICAGO — Governor Bruce Rauner’s amendatory veto of the Life Insurance Reform Act guarantees life insurance companies will pocket millions of dollars rather than pay death benefits to grieving families, Illinois State Treasurer Michael Frerichs said today. Freri chs called upon the General Assembly to override the veto because paying death benefits should not be a partisan issue. “Governor Rauner chose special interests over real people,” Frerichs said. “Common sense says that when a loved one dies the family should be paid.” Currently, some life insurance companies do not pay…

SPRINGFIELD — Bidders from across the state and country spent more than $117,000 in this past weekend’s live auction at the Illinois State Fair, Illinois State Treasurer Michael Frerichs said today. This was the second consecutive year for the live auction at the Illinois State Fair, which had previously taken a 10-year hiatus. Noteworthy items at this year’s auction included a lot with a 1983 Ryne Sandberg baseball card ($450); 1893 Chicago World’s Fair souvenir medallions ($206); Spanish shipwreck coins from the 1622 shipwreck of the Atocha ($2,400); 22K earrings…

CHICAGO — A historic south side hospital that cares for the poor and indigent in the middle of a healthcare desert will receive a $4 million loan through the office of Illinois State Treasurer Michael Frerichs. Roseland Community Hospital will use the money to refinance debt so it can continue to serve as the area’s only option for emergency and health care. The 92-year-old safety-net hospital qualifies for the loan because it has taken dramatic steps to stabilize its finances after poor record- keeping and questionable leadership threatened to close…