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State Treasurer Frerichs Eclipses $3 billion in Investment Earnings for State Portfolio

Illinois State Capitol building
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The Illinois treasurer's Office reports it has made more then $3 billion in investment earnings from the state investment portfolio during Treasurer Micheal Frerichs' tenure.

An additional $1.75 billion in gross investments earnings has been earned for cities, villages, school districts, counties and other units of government that take part in the highly rated Illinois Funds local government investment pool operated by the State Treasurer's Office.

The State investment portfolio is one of the primary duties of the Illinois State Treasurer's Office. State legislators budget public money that is collected, but that money is not spent all at once. State agencies, boards and commissions require assistance managing their cash and investing all remaining funds.

The Illinois Funds, is a local government investment pool the State Treasurer's Office runs for state and local government agencies. The program enables school districts, park boards, library boards, etc. to pool their money and invest in a safe, liquid investment vehicle that exceeds industry benchmarks.

Brandon Jones is a student news contributor for WSIU Public Broadcasting located at Southern Illinois University, Carbondale. Contact WSIU Radio at 618-453-6101 or email wsiunews@wsiu.org
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