The Illinois Funds FAQs

Find answers to common questions about The Illinois Funds, including eligibility, rates, account access, purchases, redemptions, account statements, and account liquidation.

• Fitch transition FAQs (PDF)
• Custodian conversion FAQs (PDF)

About The Illinois Funds

What is The Illinois Funds?

Who can participate in The Illinois Funds?

What are the administrative fees of The Illinois Funds?

Rates and Earnings

How often do rates change?

Does interest compound?

Account Access and Online Services

How do I make deposits into my Illinois Funds account?

Is there a minimum balance requirement?

How many accounts may I have?

Are account statements available through the online portal?

May I request my USBFS online credentials over the phone?

Safety and Policy

How safe are funds invested in The Illinois Funds?

Audit and Reporting

Where do we send our audit confirmation request?

Purchases and Redemptions

Is there a required time for funds to stay invested?

Are there any fees for transactions?

What are the cutoff times for redemption requests?

What are the cutoff times for purchase requests?

Account Liquidation

How do account liquidation and Comptroller distributions work?