A now Chicago resident, Mike Frerichs was born and raised in the small farming community of Gifford, Illinois (pop. 900). The son of a Teamster truck driver and a university secretary and AFSCME member, Mike graduated from Yale University and spent two years in Taiwan, where he taught English and learned to speak Chinese. He returned home to launch a technology business and serve as a volunteer firefighter.
In 2000, Mike was elected to the Champaign County Board and later served as Champaign County Auditor, where he became a Certified Public Finance Officer.
In 2006, Mike was elected to the Illinois State Senate, representing parts of Champaign and Vermilion Counties. As chairman of the Higher Education Committee, he championed efforts to make college more affordable. He also chaired the Agriculture and Conservation Committee, advocating for Illinois farmers and rural communities.
In 2014, Mike was elected Illinois State Treasurer and was subsequently re-elected in 2018 and 2022. As Illinois' Chief Investment and Banking Officer, Mike has transformed the Treasurer's Office by delivering strong investment returns for taxpayers and expanding programs that help working families build long-term financial security.
During his tenure, Mike has:
Protected taxpayers and strengthened Illinois' finances by earning billions of dollars in investment returns through safe, responsible investing, generating revenue that supports public services without raising taxes.
Returned a record-breaking $2.5 billion in unclaimed property to Illinois residents, businesses, and nonprofit organizations through the I-CASH program, returning more money than any previous Illinois Treasurer.
Made college and trade school more affordable by transforming Bright Start from one of the nation's lowest-rated college savings programs into a nationally recognized, top-rated program, reducing fees and expanding investment options for families.
Helped working families retire with dignity by launching and expanding My Illinois Savings (formerly Illinois Secure Choice), providing access to retirement savings for an estimated 1.2 million private-sector workers without employer-sponsored retirement plans.
Supported Illinois farmers and agricultural communities through the Ag Invest program, expanding access to affordable financing and helping farmers invest in their operations.
Empowered Illinoisans with disabilities and their families through the ABLE program, allowing individuals to save and invest for their futures without jeopardizing federal disability benefits, while lowering fees for participants.
Mike's leadership has earned national recognition from both parties. He has served as president of the National Association of State Treasurers and the National Association of State Auditors, Comptrollers, and Treasurers. He has also received national awards recognizing his work to expand college savings opportunities and strengthen public financial management.
Mike believes that through responsible investing, expanding financial opportunity, and putting working families first, the Treasurer's Office can help every Illinois family build a more secure future and achieve the American Dream.
Mike lives in Chicago with his wife, Erica, his daughter, Ella, and his twin sons, Max and Theo.