Illinois State Treasurer’s Office News Releases
Treasurer Frerichs Statement on US Senate Vote That Hurts Employers, Works Saving for Retirement
SPRINGFIELD — Illinois State Treasurer Michael Frerichs today released the following statement after the U.S. Senate’s vote to pass House Joint Resolution 66. The passage of the resolution weakens protections for employers who choose to offer Illinois’ Secure Choice retirement savings plan to their workers. Frerichs championed Secure Choice as an Illinois senator and fought for stronger federal safe harbor protections as state treasurer. “Common sense was locked out of Congress today. Congress had a chance to help millions of Americans who lack retirement savings options. Congress had a chance…
Durbin, Frerichs Slam Republican Effort to Limit American’s Retirement Savings Options
CHICAGO — U.S. Senator Dick Durbin (D-IL) and Illinois State Treasurer Mike Frerichs today slammed congressional Republicans’ efforts to prohibit states from operating individual retirement accounts (IRAs). The Senate is poised to eliminate a Labor Department rule that allows states like Illinois to provide access to retirement savings accounts to millions of working American families. “This vote is an attack on working families—it will make it unnecessarily difficult for 1.5 million working Illinoisans without access to one of the only viable means they have to save for retirement. Already, tens…