Illinois State Treasurer’s Office News Releases
Treasurer Frerichs Hosts State Treasurers to Discuss Implementation of ABLE Act
CHICAGO — Illinois Treasurer Michael Frerichs today welcomed state treasurers from across the nation and discussed working together to implement a program that helps families save money to cover expenses for people with disabilities. The Achieving a Better Life Experience Act (ABLE Act) increases the amount of money that can be saved and spent each year without jeopardizing federal assistance or incurring certain taxes. The ABLE Act assists families facing challenges such as Autism, Down Syndrome, Blindness, or someone who has suffered a debilitating injury before the age of 26.…
Treasurer Frerichs’ Letter to U.S. Secretary of Labor Thomas Perez
Secretary Thomas E. Perez Department of Labor Frances Perkins Building 200 Constitution Ave. NW Washington, DC 20210 July 24, 2015 Secretary Perez, I am writing to thank you for the leadership role you have taken in advocating for the formulation of regulations pertaining to state-based retirement savings initiatives. I was extremely encouraged by your comments at the White House Conference on Aging. As you are aware, the Illinois Treasurer’s Office is preparing to implement a new state-run retirement savings program called Secure Choice. Secure Choice will enroll all workers into…
Treasurer Frerichs Partners with Credit Unions to Help People During Budget Impasse
CHICAGO — Interest-free loans will be available to state workers if the budget impasse means payroll checks will not be issued beginning July 15, Illinois Treasurer Michael Frerichs said today. The loans will be issued through participating credit unions with money made available through the Treasurer’s Office linked-deposit program. Linked deposits provide financial institutions money for specific loan programs. “The Treasurer’s Office uses tools to help our residents achieve more, such as saving for college, investing in a business, or planning for retirement,” Frerichs said. “This linked-deposit program is a…
Illinois Treasurer Michael Frerichs Seeks to Reunite Residents with Assets, Mementos
$106.8 Million Available from Lake County SPRINGFIELD — Illinois State Treasurer Michael Frerichs’ staff will be in Grayslake on July 9 to help reunite citizens with unclaimed property through the ICash program. In Lake County, an estimated 300,000 people have unclaimed cash or property safeguarded by the Treasurer’s Office. The value exceeds $106.8 million. Statewide, the Treasurer secures more than $2 billion in unclaimed cash and property on behalf of Illinois residents. “Jewelry, coins, and family mementos tucked away in a safe deposit box are common examples of items that…