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April 6, 2023 - Treasurer Frerichs Returns $22.7 Million in Unclaimed Property in March. April 6, 2023 - Illinois State Treasurer Michael Frerichs Visits Rock Island County Treasurer Nick Camlin. March 28, 2023 - Illinois State Treasurer Michael Frerichs Schedules Online Auction of Unclaimed Property for April 3-7.
- Office of the Treasurer
Michael Frerichs was first elected Illinois State Treasurer...
- Individuals
Welcome to the Illinois State Treasurer’s Unclaimed Property...
- Invest in Illinois
Invest in Illinois Overview Three Impact Investment Deposit...
- Financial Institutions
Treasurer Frerichs is the state’s Chief Investment Officer...
- Local Governments
ABOUT ePAY ePAY is a full-service electronic payment program...
- Financial Education
Treasurer Michael Frerichs is working to ensure high quality...
- Mission
The Illinois State Treasurer’s Office is dedicated to...
- Office Timeline
Since gaining statehood, 74 people have served as the...
- Office of the Treasurer
- Purpose
- Mission
- Management
- Results
- Early life and career
- Political career
- Other activities
In Illinois, the Treasurer is the states Chief Investment and Banking Officer. The office invests money on behalf of the state and local units of government. Mike also believes in providing individuals with the tools so that they can invest in themselves.
He does this by encouraging savings plans for college and trade school, increasing financial education among all ages, removing barriers to a secure retirement, and reuniting Illinois residents with their unclaimed property.
The Treasurers Office actively manages approximately $31 billion. The investment approach is cautious to ensure the preservation of principal. The investment returns are significant: For every $1 spent to run the office, Frerichs nets $42 for the states residents.
Since taking office, Treasurer Frerichs has made significant strides in the fight for consumers by making sure Illinois residents get what is owed to them through the Unclaimed Property Program. A record-breaking $180 million in forgotten cash and stock was returned to individuals, employers, and non-profits in Fiscal Year 2018. By making changes t...
Treasurer Frerichs was born and raised in the small, downstate farming community of Gifford, Illinois. He graduated from Yale University and spent two years in Taiwan where he taught English to young students and learned to speak Chinese. He returned to Champaign County and launched his own technology business. He was elected to the Champaign Count...
In 2006, Frerichs was elected Illinois State Senator representing east-central Illinois. As chairman of the Higher Education Committee he championed efforts to make college more affordable. He also served as chairman of the Agriculture and Conservation Committee and became a Certified Public Finance Officer.
Frerichs currently serves on the Executive Committee of the National Association of State Treasurers, the National Association of State Auditors, Comptrollers, and Treasurers, the College Savings Plan Network, and the National Association of Unclaimed Property Administrators. He also serves as a trustee on the Illinois State Board of Investment.
Raising the Bar. Making Prudent Choices. Investing means making choices. For the investment officers at the Illinois State Treasurer’s Office, it means choosing investments that are risk-appropriate, high-performing, and meet or exceed the benchmark. It means making investments that reflect our commitment to sustainability, inclusion, and ...
Michael Frerichs was elected treasurer of Illinois in 2014 on a promise to strengthen ethics and transparency, and expand financial access, opportunity, and education across Illinois. Locating his main office in Springfield, the state capital, and not Chicago, Michael Frerichs and his young daughter, Ella, continue to call Champaign, Illinois home.
Our investment decisions promote education, access, and opportunity for individuals and governmental bodies across our state to give families the tools to achieve the American Dream. The Treasurer’s Office is committed to fulfilling this mission in a highly professional and ethical manner, while striving for transparency, efficiency, and preservation of public trust.
The Treasurer is elected for a renewable four-year term during the quadrennial mid-term election. The Illinois Constitution provides that the Treasurer must, at the time of their election, be a United States citizen, at least 25 years old, and a resident of the state for at least three years preceding the election.
People also ask
Who is Illinois State Treasurer Michael Frerichs?
Who is the Illinois Treasurer?
When did Illinois become a state treasurer?
What does the Illinois State Treasurer's office do?
Michael Frerichs (FRAYR'-iks) was elected Illinois State Treasurer in November 2014. In Illinois, the Treasurer’s office predates the state’s incorporation in 1818. Voters in 1848 chose to make it an elected office. Frerichs is the 74th person to serve in this role. About The Vault. The Vault is the Treasurer’s interactive open data portal.
