Illinois State Treasurer’s Office News Releases

SPRINGFIELD — President Donald Trump this week authorized new rules that will hurt workers and small business owners while worsening the retirement crisis facing millions of Americans, Illinois Treasurer Michael Frerichs said today. President Trump’s rejection of the commonsense approach that encouraged workers to save their own money while at the same time protecting employers from lawsuits about how those retirement savings are invested needlessly injects uncertainty into the employer community and will invite frivolous lawsuits, Frerichs said. “President Trump chose to ignore workers and the small business owners who…

SPRINGFIELD — State Treasurer Michael Frerichs today urged Gov. Rauner to suspend his campaign and initiate meaningful budget negotiations or risk plunging the state into junk bond status. Illinois has incurred six credit downgrades since Rauner became governor because Illinois has gone two years without a spending plan and has a $12 billion bill backlog. Moody’s Investment Services warns of another credit downgrade if the Governor and General Assembly do not strike an agreement by May 31. “If we do not have a budget at the end of this month,…