Illinois Treasurer Michael Frerichs says the state has earned more than $1 billion a year on its investments since he took office in 2015. He says the state’s investment portfolio is doing the best it has since the 1990’s. He says the law doesn’t allow him to put money into higher risk investments like the stock market. But he got lawmakers’ permission a few years ago to invest in more than just the most conservative bonds.
The Treasurer’s Office invests for various state funds, but the legislature does have the authority to sweep those funds.
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March 23, 2021 at 04:14PM