Investment Programs
Treasurer Frerichs is the state’s Chief Investment Officer and Banking Officer. The Illinois State Treasurer’s Office oversees a broad investment portfolio that includes approximately $25 billion in State Investments, more than $17.5 billion in Illinois 529 college savings plans, and about $9 billion in The Illinois Funds for local governments.
State Investments
State Investments – As the state’s chief investor, the Treasurer provides investment stewardship, treasury, cash management, and investment support to Illinois government agencies, boards, and commissions. The Office of the Illinois Treasurer manages State Investments, with assets of approximately $25 billion, to provide liquidity for the State’s daily obligations while investing remaining funds in authorized short- and long-term opportunities.
College Savings Plans
College Savings Plans – The Office of the Illinois Treasurer administers two Illinois 529 College Savings Plans: Bright Start and Bright Directions. Together, these programs represent over $17.5 billion in assets. Investments grow tax-free when withdrawals are used for qualified higher education expenses (such as tuition, fees, books, and room and board).
The Illinois Funds
The Illinois Funds – Created by the Illinois General Assembly in 1975, The Illinois Funds enable local governments to invest together to earn greater returns. The pool holds approximately $9 billion in assets and is designed to protect principal, provide liquidity, and deliver competitive returns using authorized investment instruments.
Illinois Growth and Innovation Fund
Illinois Growth and Innovation Fund – The Illinois Growth and Innovation Fund (ILGIF) is an evergreen impact investment fund that supports the growth of technology-enabled businesses in Illinois. In 2018, Treasurer Michael Frerichs expanded ILGIF’s available investment capital to approximately $1.5 billion over 10 years, using funds from the State’s existing investment portfolio.
Secure Choice Retirement Savings Program
Secure Choice Retirement Savings Program – A retirement savings program for Illinois workers who do not have access to a workplace retirement plan. An estimated 1.2 million workers will gain access to employer-based retirement savings plans through Secure Choice.
IL ABLE
IL ABLE – The Illinois Achieving a Better Life Experience (ABLE) Program helps people with disabilities—and their families—save for qualified disability-related expenses. ABLE accounts offer tax advantages and include professionally managed investment options.
FIRST Fund
FIRST Fund – A $1.5 billion evergreen impact investment fund dedicated to strengthening Illinois’ infrastructure and real estate. The FIRST Fund allocates capital on an ongoing basis to support development projects across Illinois.
Student Empowerment Fund (SEF)
Student Empowerment Fund (SEF) – A $1.5 billion evergreen impact investment fund dedicated to supporting affordable and responsible education financing options for Illinois residents.
Investment Policies
The Office of the Illinois Treasurer creates, revises, implements, and publishes investment policies for specific investment programs. These policies reflect statutory requirements and the Treasurer’s program objectives, covering investment goals, parameters, responsibilities, contractual needs, and reporting requirements.