Photo by Mike Brothers
State Treasurer Michael Frerich visited a Sullivan Chamber round table at Cathrine’s 5 West Feb 3. John Hindman of Mattoon (right) was among interested citizens attending.

•February 8, 2017•

State treasurer Michael Frerichs gave visitors to the Sullivan Chamber of Commerce round table a chance to find out how he does his job in a state with no money.

“As the chief investment officer for a state without money, we were able to generate $68 million in interest for Illinois last year,” Frerichs explained to community leaders gathered at Cathrine’s 5 East Feb. 3.

He explained that if the state had a balanced budget, that would have grown another $30 million.

“We try to help provide tools for families to help invest,” he continued, noting programs such as the College Savings has grown to include 440,000 participants.

“A new investment program involving 14 states now allows people to save on behalf of persons with disabilities or blindness without jeopardizing federal disability benefits,” Frerich said.

He reported that the National Achieving a Better Life Experience (ABLE) Alliance allows for tax free investments when funds are used for the person with disabilities utilizing a pool involving 14 states.     Login or Subscribe to read the rest of this story.