Springfield, IL (CAPITOL CITY NOW) – Illinois State Treasurer Mike Frerichs says the state’s investments have added some significant money to the state’s checkbook.

According to a news release, Frerichs, as the state’s Chief Investment and Banking Officer, says the office made $1.57 billion in investment earnings during the Fiscal Year 2025.  He says that’s a record.

In addition, Frerichs says $998 million in gross investment earnings was made for government entities taking part in the “Illinois Fuds” accounts his office operates.  Those include cities, villages, school districts, and other entities.”

As for the investments, Frerichs also took a shot at the Trump administration while announcing the earnings.

“Every dollar we earn in interest for the people of Illinois is a dollar that lawmakers don’t have to raise in taxes,” said Frerichs, in a news release.  “We are trying to maximize earnings for our state at a time when the Trump administration is looking to strip away health care for working families to give billionaires a tax cut.”

Frerichs’ office invests approximately $60 billion.  His office is not to be confused with the Illinois Comptroller, which pays the state’s bills and puts state money into pension funds.