Illinois State Treasurer’s Office News Releases

CHICAGO — The state of Illinois earned $7.9 million less in investment income in the second quarter of 2016 as a result of the year-long budget impasse, Illinois Treasurer Michael Frerichs said today. Despite the six-month budget plan signed on June 30, the last day of the fiscal year, $31 million remains the projection for missed earnings for 2016. “The damage is already done. Even though we still made money from our investments, one year with no budget created missed opportunity for our state,” Frerichs said. “We will continue to…

CHICAGO — An Ernie Banks rookie card, an 1856 flying eagle cent, and an Elvis Presley concert ticket stub are some of the 21,500 unclaimed property items worth $167,000 to be auctioned live on August 20 on the Ethnic Village Stage at the Illinois State Fair in Springfield. “For the first time in 10 years, the treasurer’s office is hosting a live unclaimed property auction at the Illinois State Fair to give collectors a rare opportunity to bid on items in person,” Treasurer Frerichs said. “Collectors can also take advantage…

CHICAGO — Illinois State Treasurer Michael Frerichs, Cook County Board President Toni Preckwinkle and several Illinois legislators today called on Governor Bruce Rauner to sign into law House Bill 4633 (Unclaimed Life Insurance Benefits Act) that requires insurers to use the federal Death Master File to determine if a policy holder has died and the death benefits have not been paid. The legislation, which passed in the Illinois House and S enate in May, is needed because not all life insurance companies pay death benefits when they know or should…