This week we have the pleasure of chatting with Michael Frerichs, Illinois State Treasurer. Frerichs was an active proponent of the Illinois savings program before it passed the State Legislature in 2014. As Treasurer he’s had a chance to see it through from its earliest days to expanding coverage to reach nearly 2 million workers.

The author discusses state-based automated workplace savings programs and how, when fully implemented, current authorized programs will have the ability to provide workplace retirement access for about 19 million workers – or about one-third of the 57 million workers who are estimated to be uncovered by a workplace savings plan today.

As Treasurer, Michael Frerichs has focused on getting money back into the hands of people to whom it belongs – by securing uncashed rebate checks and unpaid policyholder death benefits, and through the state’s unclaimed property program, I-Cash. He’s also helping Illinoisans get access to retirement savings opportunities at work through the groundbreaking Illinois Secure Choice program. Illinois Secure Choice opened up on a statewide basis in 2018. Join us as we talk about those exciting first two years.