Illinois State Treasurer Michael Frerichs was re-elected tonight with broad statewide support, according to unofficial election results.
The Democrat from Downstate Gifford said accomplishments made during his first term, coupled with his quiet work ethic and ability to work with Republicans and Independents, led to his victory over Republican Jim Dodge, an Orland Park trustee in suburban Chicago.
“Ours was a campaign of people and policy, not personalities and name calling. To the people of Illinois, I thank you for your trust and support. To Mr. Dodge, I thank you for a campaign that featured honest dialogue and honest disagreement.”
Frerichs, 45, said that he will continue to emphasize ways people can invest in themselves.
In Illinois, the state treasurer is the chief investment officer. The office manages approximately $30 billion on behalf of the state, families saving for college, and units of local government. Changes in investment strategies that Frerichs sought and lawmakers approved led to more than quadrupling of investment returns during his first term. In January 2015, monthly ROI was about $4 million. In July 2018, the latest figure available, monthly ROI increased to $23 million.
Frerichs pointed to treasurer’s office programs created or reimagined during his tenure that help people pursue their dreams. These include savings plans for college or trade school, removing barriers to a secure retirement, protecting residents from predatory companies, helping people with disabilities invest their own money for their future, and making capital available for farmers, entrepreneurs and neighborhood investment.
Frerichs’ ability to work across the aisle in the Illinois Legislature to promote programs that save taxpayer money is well known. Rep. David Harris, a Republican leader from Arlington Heights, called Frerichs’ idea to reduce the bill backlog “one of the most creative and innovative programs to save money that has ever come before the House.”
Frerichs’ record of achievement earned endorsements from a diverse array of media, including the Chicago Tribune, Chicago Sun Times, Daily Herald, Rockford Register Star, the Dispatch Argus in the Quad Cities, Peoria Journal Star, Springfield Journal Register, Champaign News-Gazette and Quincy Herald-Whig, among others.
Frerichs lives in Champaign with his young daughter.