Illinois State Treasurer’s Office News Releases

SPRINGFIELD — Illinois State Treasurer Michael Frerichs today released the following statement after Moody’s decision to lower Illinois’ credit rating for the second time since the budget impasse. “This credit downgrade is disappointing because it is avoidable,” said Frerichs. “Illinois remains a good investment, but the focus on non- budgetary items is driving up the cost of government. Higher interest rates when we borrow money mean fewer dollars for teachers, child care workers, and others who serve our most vulnerable.” “I continue to urge Governor Rauner and the Illinois General…

SPRINGFIELD — Illinois State Treasurer Michael Frerichs’ staff will be in Rock Island on June 9 to reunite citizens with their unclaimed property through the I-Cash program. In Rock Island and Henry and Mercer counties, an estimated 140,000 people have unclaimed cash or property currently under the Treasurer’s protection. The value exceeds $19 million. Statewide, Frerichs safeguards more than $2 billion in unclaimed cash and property. “For most people, it is difficult to believe that they might have overlooked an investment account or forgot to pick up a final paycheck.…

SPRINGFIELD — Illinois Treasurer Michael Frerichs announced today a Request for Proposal (RFP) for ABLE program services that will help people with a disability or blindness save for a better future. Frerichs made the announcement along with nine other states, forming a partnership that seeks to provide the best program possible at a low cost to beneficiaries. The consortium will manage a tax-advantaged investment portfolio similar to those used to save for college, such as Illinois’ Bright Start and Bright Directions programs. Without the consortium, individual states would lack the…