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Michael W. Frerichs (/ ˈ f r ɛ r ɪ k s /; born July 28, 1973) is an American politician serving his third term as the State Treasurer of Illinois, after taking office on January 12, 2015.
Jun 13, 2024 · Illinois State Treasurer Michael Frerichs announced today that his office has returned more than $2 billion in unclaimed property on his watch, a record-setting total for a state program...
September 11, 2023 - Illinois State Treasurer Michael Frerichs on the Passing of Representative Bill Black Read More. September 7, 2023 - Treasurer Frerichs Returns Nearly $800,000 in Unclaimed Property at the 2023 Illinois State Fair and DuQuoin State Fair Read More.
- 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.
If you prefer to reach the Treasurer’s Office by email, please contact the corresponding program or division below. For general office inquiries, please click here. The State safeguards lost funds until they are claimed by either the original owner or their heirs through the I-Cash program.
Jun 15, 2022 · The State Treasurer’s Office actively manages approximately $35 billion, investing money on behalf of the state and local units of government. Michael W. Frerichs was first elected Illinois State Treasurer in 2014 and serves as the state’s Chief Investment and Banking Officer.
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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.
