Investing in Illinois

//Investing in Illinois

Investing in Illinois

Serving as Treasurer of Illinois, I remain humbled by the various ways we help our families.  Our office provides the financial tools for Illinoisans to invest in themselves by making college and trade school more affordable, fighting for consumers, and returning valuables and hard-earned money back to families.

Some Illinois families have additional worries and fears about saving for their loved one who has a disability or blindness.  On January 30th, I was honored to announce a new program called Achieving a Better Life Experience (ABLE).  ABLE accounts are a tax-free investment tool to ensure families can care for their loved ones.

We were able to accomplish this by working together with 13 other states, red states and blue states, from around the country to create the program with the lowest fees in the country.  By working together we were able to accomplish much more than if we had gone it alone.

Since I took office in 2015, my team has been looking for ways to improve the lives of everyday Illinois families.  Since 2011, my office has discovered over $550 million of life insurance benefits were never paid to the rightful beneficiaries. We are working diligently to get that money to the loved ones of the deceased, and to make sure it never happens again.

This year, our office filed additional legislation to ensure life insurance companies review their records going back to 1996 and confirm death benefits have been paid to the rightful heirs.  Life insurance companies are able to compare their policy holders against the federal Master Death File.  We are going to help life insurance companies keep the promises that they made to their customers.

In January, I sent a letter to President Donald Trump to urge him to give assurances to responsible financial institutions that conduct business with state-licensed medical cannabis cultivators and dispensaries.  With the confirmation of Attorney General Jeff Sessions, I urged President Trump to give the medical cannabis industry, financial institutions, and patients a clear vision and confidence to continue services and care. There is no denying that Illinois patients have found relief through a medical cannabis prescription to treat veterans with PTSD and children with seizures.

We want people to make Illinois their home and live their lives to the best of their abilities.  We are a state of doers.  We are a state of builders.  We need our leaders to reflect our work ethic and values. We work everyday to make our future a little bit brighter. I will continue to stand tall for the people of Illinois by investing in our people, businesses, communities, and families.

Thank you for the honor of serving as your Treasurer,

Mike Frerichs
State Treasurer of Illinois