retirement-savings

Treasurer Frerichs as a boy, around age 8, climbing the stairs to exit a swimming pool

Helping You Build Good Money Habits

The 1980s seemed to be peak suntanning culture in America. In movies, the cool kids had a deep, dark tan. The ads for sunscreen focused on getting a nice even brown. In the summer, it seemed like everyone was grabbing some rays, and in the winter, tanning beds were a thing. I got caught up in the craze. I never visited a tanning salon, but I also rarely used sunscreen. I don’t think the sun’s harmful effects were clear to me…

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Twin toddler boys sitting on a chair, each holding a book

Comparison Is the Thief of Joy

After I wrote about the boys’ birthday, a few people asked me what their favorite toy was. It’s different every day, but without question their current favorite toy is the one their brother is playing with. And we often experience a meltdown when their brother does not relinquish it to them. The toy could have been sitting at the bottom of the toy chest for months, out of sight and out of mind. But as soon as their brother has…

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two men in suits standing in front of the illinois flag and united states flag

New Name, Same Mission to Help You Save

I recently spoke with an employee of the park district and mentioned how much I enjoy our neighborhood parks. She asked me which one was my favorite, and I realized I didn’t really know the official names of any of them. They all have names to honor important people, but for me, the location is more important. For my boys, each one has earned a nickname based on a special feature in or near the park. We frequently choose between…

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Mila the dog in the snow

Our Family Feels a Little Smaller

Mila, our family dog, passed away six months ago. It came soon after I last wrote about her. I thought I would share this news sooner, but Mila’s passing has been more difficult than I imagined. I was in the first grade when my friend’s dog bit me on the leg. I had a fear of dogs for a very long time, and it would be fair to say that I was not a dog person. When I met Erica,…

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Helping Workers Save for a Dignified Retirement

A friend recently asked if I ever had a job I didn’t like, because I seem to like all of those I have written about. I’ve shared stories about walking beans and detasseling corn, bagging groceries and stocking shelves at the IGA in Rantoul, teaching English in Taiwan, and my time as Champaign County Auditor.  I learned something new at each one, and found some more fulfilling than others. Sometimes we work out of necessity. I needed to work a…

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Treasurer Frerichs speaks from a podium as two people stand beside him on his left

Illinois Treasurer Michael Frerichs Relaunches State Retirement Program for Small Businesses with Lower Fees and New Name

Savers and Employers Encouraged to Claim Accounts in New Online Portal After June 15 VIDEO WILL BE POSTED AT THE DEPARTMENT OF CENTRAL MANAGEMENT SERVICES WEBSITE HERE SPANISH-LANGUAGE PRESS RELEASE AVAILABLE ON THE TREASURER’S WEBSITE HERE CHICAGO, IL — Illinois State Treasurer Michael Frerichs today announced lower fees and technology improvements for employers and savers of the Illinois Secure Choice Savings Program, which will take effect in June 2026. “A decade ago, too many Illinois workers didn’t have an easy…

Read MoreIllinois Treasurer Michael Frerichs Relaunches State Retirement Program for Small Businesses with Lower Fees and New Name
two men in suits standing in front of the illinois flag and united states flag

El Tesorero de Illinois, Michael Frerichs, relanza el programa estatal de ahorro para la jubilación dirigido a pequeñas empresas con costos más bajos y un nuevo nombre

Se insta a los ahorradores y empleadores a reclamar sus cuentas en el nuevo portal en línea a partir del 15 de junio CHICAGO, IL — El Tesorero del Estado de Illinois, Michael Frerichs, anunció hoy una reducción en los costos y mejoras tecnológicas para los empleadores y ahorradores del Illinois Secure Choice Savings Program, que entrarán en vigencia en junio de 2026. “Hace una década, demasiados trabajadores en Illinois no tenían acceso a una forma sencilla de ahorrar para…

Read MoreEl Tesorero de Illinois, Michael Frerichs, relanza el programa estatal de ahorro para la jubilación dirigido a pequeñas empresas con costos más bajos y un nuevo nombre
Treasurer Frerichs stands and speaks from a podium as a man and woman stand on either side of him

Illinois State Treasurer Michael Frerichs Pushes for Law Allowing Leftover College Savings Funds to Be Used for Retirement Savings

Change Would Allow 529 Rollover into Roth IRAs CHICAGO – Illinois Treasurer Michael Frerichs today urged state lawmakers to approve a bill that would allow parents who don’t use all the money in their Illinois 529 College Savings Accounts (Bright Start and Bright Directions) to roll over the funds into a Roth IRA. “One of the most common questions we get is what can you do with the Bright Start money you have saved if your child ends up not…

Read MoreIllinois State Treasurer Michael Frerichs Pushes for Law Allowing Leftover College Savings Funds to Be Used for Retirement Savings