February 25, 2024 – The Illinois State Treasurer’s Office led by Treasurer Michael Frerichs has generated over 3 billion in investment earnings from the state investment portfolio.
In addition, the Illinois Funds local government investment pool, operated by the State Treasurer’s Office has contributed an extra $1.75 billion in gross investment earnings.
Treasurer Michael Frerichs stated “Every dollar we make is a dollar that does not need to be raised in taxes. The earned income can be used to fix roads, repair bridges, purchase school supplies and invest in our local communities.” Treasurer Frerichs also oversees the state investment portfolio and the Illinois Funds.
The Illinois Public Treasurers’ Investment Pool, known as The Illinois Funds, has received an AAA rating from Fitch, a national ratings agency.
The Illinois State Treasurer’s Office actively manages approximately $55 billion in state funding, overseeing investments that support education, retirement savings, and bill payments for local governments.
By: Ahsaan Spence
