Michael Frerichs was first elected Illinois state treasurer in November 2014. He has been re-elected twice and started his third term in January 2023.

Since taking office, Frerichs has made significant strides in the fight for consumers by making sure Illinois residents get what is owed to them through the Unclaimed Property Program. He has also worked to make college more affordable for families saving for their children’s future, by lowering fees and providing more investment options for families. In November 2018, Frerichs launched Illinois Secure Choice, a retirement savings program that aims to help an estimated 1.2 million private sector workers who don’t have access to an employer-sponsored retirement plan retire with dignity.

Frerichs was born and raised in the small downstate farming community of Gifford, Ill. He graduated from Yale University and spent two years in Taiwan, where he taught English to young students and learned to speak Chinese. He was elected to the Champaign County Board and elected Champaign County auditor, where he became a certified public finance officer.

In 2006, Frerichs was elected Illinois state senator representing East Central Illinois. As chairman of the Higher Education Committee, he championed efforts to make college more affordable. He also served as chairman of the Agriculture and Conservation Committee.

In 2022, Frerichs was unanimously elected president of the bipartisan National Association of State Auditors, Comptrollers and Treasurers. He was also unanimously elected by his bipartisan peers to serve as president of the National Association of State Treasurers in 2023. Among his numerous honours, the College Savings Plans Network presented Frerichs with its Distinguished Service Award in 2022. He was awarded the ESGR Patriot Award in 2020 for his commitment to Illinois veterans. He also serves as vice-chair of the Illinois State Board of Investment, which manages more than $26 billion in pension assets for state employees.

Frerichs is married to Erica. He has a daughter, Ella, and two sons, Max and Theo.