MF

Michael Frerichs

DemocraticIllinois Treasurer
↗ Campaign site↗ ILSBE filing (14111)

Raised

N/A

THE JACKET

Who funds Michael Frerichs?

DATA PENDING

Source: https://illinoissunshine.org/committees/friends-of-frerichs-14111/

labor pac$3,589,794(62%)
party$1,729,732(30%)
industry pac$244,809(4%)
candidate committee$123,373(2%)
self$111,555(2%)
labor pacpartyindustry paccandidate committeeself
DonorCategoryAmountStatus
Illinois Senate Democratic Fundparty$898,563confirmed
Democratic Party of Illinoisparty$831,169confirmed
Illinois Laborers' Legislative Committeelabor-pac$441,000confirmed
Illinois Federation of Teachers COPElabor-pac$432,693confirmed
Chicago Land Operators Joint Labor-Management PAClabor-pac$291,630confirmed
Laborers' Political League Education Fundlabor-pac$268,700confirmed
IPACE (Illinois Political Action Committee for Education)labor-pac$242,900confirmed
SEIU Illinois Council PAC Fundlabor-pac$242,700confirmed
Construction and General Laborers' Dist. Council of Chicago & Vic.labor-pac$228,100confirmed
Illinois Pipe Trades PAC Accountlabor-pac$226,900confirmed
Illinois Political Action Committee for Education (IPACE) — 2025labor-pac$147,700confirmed
AFT Local 604 COPElabor-pac$142,100confirmed
Chicago Regional Council of Carpenters PAClabor-pac$141,433confirmed
I.U.O.E. Local 399 Political Education Fundlabor-pac$136,200confirmed
Associated Fire Fighters of IL PAC Fundlabor-pac$134,888confirmed
Pipefitters' Association Local 597 UA Illinois PAClabor-pac$124,300confirmed
JB for Governorcandidate-committee$123,373confirmed
AFSCME Illinois Council 31 PAClabor-pac$115,100confirmed
Michael Frerichs (candidate self-contributions)self$111,555confirmed
UFCW Local 881 PAClabor-pac$106,900confirmed
Illinois Trial Lawyers Association PACindustry-pac$94,000confirmed
UAW Illinois Political Action Committeelabor-pac$87,050confirmed
North Central Illinois Laborers' District Council PAClabor-pac$79,500confirmed
Associated Beer Distributors of Illinois PACindustry-pac$76,075confirmed
Realtors Political Action Committeeindustry-pac$74,733confirmed

Red Flags

🚩accountability_gapRunning effectively unopposed — no major-party challenger for fourth term

No Republican candidate filed for the 2026 Illinois Treasurer race, making it the first time in over 90 years a major party failed to file for a statewide Illinois office. Frerichs also considered running for U.S. Senate (to replace Dick Durbin) before choosing the uncontested Treasurer race. Running without meaningful opposition reduces public accountability for a $60 billion portfolio.

Source: → https://en.wikipedia.org/wiki/2026_Illinois_State_Treasurer_election

🚩investment_controversyRefusal to divest from Israel bonds despite protest pressure

In September 2025, approximately 50 protesters organized by Boycott Divestment Sanctions-Chicago rallied outside Frerichs' Chicago office demanding divestment from Israel bonds. Days earlier, his North Side home was defaced with paint by a group hours after a protest outside a fundraiser. Frerichs defended the holdings, stating Israel Bonds 'have been stable investments that have generated among the highest returns in the state portfolio' and that Israel has never defaulted in 70+ years. BDS activists dispute that returns justify the holdings given humanitarian concerns.

Source: → https://www.chicagotribune.com/2025/09/22/illinois-treasurer-michael-frerichs-protest/

⚠️investment_controversyISBI fossil fuel and weapons holdings — activist criticism ongoing

A Public I (Urbana-Champaign Independent Media Center) report from August 2025 documented that organizations representing Champaign-area groups traveled to Chicago's quarterly Illinois State Board of Investment meeting to demand divestment from fossil fuel and weapons-related holdings. Frerichs serves as ISBI vice-chair. Activists called state investments 'unpopular and immoral.' Frerichs has not committed to divestment, citing fiduciary duty.

Source: → https://publici.ucimc.org/2025/08/state-treasurer-frerichs-investments-are-unpopular-and-immoral/

⚠️governanceSole fiduciary model criticism — political and financial roles not fully separated

A March 2024 Top1000funds.com analysis noted Frerichs 'bats away criticism that the sole fiduciary model is outdated,' arguing it is 'possible to wear a fiduciary and political hat.' Critics argue that a single elected official controlling $60 billion in state investments with no independent investment board creates structural accountability risks, especially when that official faces no electoral competition.

Source: → https://www.top1000funds.com/2024/03/96219/

🚩career_continuityConsidered Senate run before choosing uncontested Treasurer race

Frerichs publicly contemplated running for the U.S. Senate seat vacated by Dick Durbin before announcing in May 2025 he would seek a fourth Treasurer term instead. The decision to choose a guaranteed win over a contested Senate primary raises questions about electoral ambition vs. public service commitment.

Source: → https://abc7chicago.com/post/illinois-treasurer-michael-frerichs-not-running-us-senate-replace-senator-dick-durbin/16330116/

Bio

Michael W. Frerichs (born July 28, 1973 in Gifford, Illinois, pop. ~1,000) is the 74th Illinois State Treasurer, serving since January 12, 2015 and currently in his third term. The son of a Teamster truck driver and an AFSCME-member university secretary, he graduated from Yale University (B.A., 1995), then spent two years in Taiwan teaching English and studying Mandarin at National Cheng Kung University. He returned to Champaign County, founded a technology business, served as a volunteer firefighter, and was elected Champaign County Auditor (2002–2007) before serving in the Illinois State Senate (2007–2015, 52nd District). As Treasurer, he manages approximately $60 billion in state investments, has returned more than $2.4 billion in unclaimed property through the I-Cash program, transformed the Bright Start 529 plan from lowest-rated to Morningstar Gold five years running, and launched Illinois Secure Choice for 1.2 million private-sector workers without retirement access. He is running for a fourth term in 2026 with no Republican challenger — the first time in over 90 years a major party failed to file a candidate for a statewide Illinois office.

Prior office: Illinois State Senator, 52nd District (2007–2015); Champaign County Auditor (2002–2007)

Key Votes

  • Champion/Lead sponsorLegislative Scholarship Program Elimination (Illinois Senate, ~2011–2013)

    Frerichs led successful efforts to eliminate Illinois' legislative scholarship program, under which legislators gave free public university tuition to constituents — widely criticized as a patronage tool.

  • AdvocateHydraulic Fracturing Chemical Disclosure (Illinois Senate, ~2012–2013)

    Frerichs advocated for disclosure requirements for chemicals used in hydraulic fracturing ('fracking') in Illinois, seeking public transparency on environmental impacts.

  • Motion author — passed unanimouslyBlagojevich lifetime ban from Illinois office (Illinois Senate, 2009)

    After Gov. Rod Blagojevich was removed for corruption, Frerichs moved to have Blagojevich barred from ever holding office again in Illinois. The motion was carried unanimously by the Senate.

  • Program architect/executive championIllinois Secure Choice Savings Program Act (as Treasurer, 2018 launch)

    Frerichs launched Illinois Secure Choice in November 2018, creating a state-administered retirement savings program for an estimated 1.2 million private-sector workers whose employers do not offer retirement plans.

  • Program architectABLE (Achieving a Better Life Experience) multi-state alliance leadership

    Frerichs led negotiations for a bipartisan multi-state ABLE alliance allowing parents of children with disabilities to save money without jeopardizing federal disability benefits. His office led negotiations resulting in lower fees for participants nationwide.