Michael W. Frerichs

Michael W. Frerichs was elected Illinois State Treasurer in 2014 and is in his third term.¹ He is the state's Chief Investment and Banking Officer and actively manages approximately $60 billion.² He also serves as vice chair of the Illinois State Board of Investment, which manages approximately $28.6 billion in pension and trust assets.¹ Before becoming treasurer, he was a Democratic state senator for east-central Illinois and served as Champaign County Auditor.³

His office made $1.5 billion in investment earnings on the state portfolio in 2025.² During his time in office, state investment earnings have exceeded $5 billion.⁴ Through the I-CASH unclaimed property program, he has returned more than $2.5 billion in assets to constituents.⁵ He says he worked to make sure insurance companies pay life insurance benefits to the intended recipients.⁶

He launched Illinois Secure Choice, a retirement savings program for private-sector workers who do not have access to an employer-sponsored plan.⁷ He made changes to the Bright Start college savings program, which as of 2023 had earned a Gold Rating from Morningstar for five consecutive years.⁸ He assumed leadership of a multi-state ABLE alliance, allowing parents to save for children with blindness or disabilities without jeopardizing their federal disability benefits.⁷