Illinois Treasurer

	Illinois Treasurer
	; ;
	General information
Office Type:	Partisan
Office website:	Official Link
Term limits:	None
	Structure
Length of term:	4 years
Authority:	Illinois Constitution, Article V, Section 1
Selection Method:	Elected
	Current Officeholder
	; ;
Name:	Dan Rutherford
Officeholder Party:	Republican
Assumed office:	January 10, 2011
Compensation:	$130,800
	Elections
Next election:	November 4, 2014
Last election:	November 2, 2010
	Other Illinois Executive Offices
	Governor • Lieutenant Governor • Secretary of State • Attorney General • Treasurer • Auditor • Comptroller • Superintendent of Education • Agriculture Director • Insurance Director • Natural Resources Director • Labor Director • Illinois Commerce Commission

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Current officeholder

The current officeholder is Dan Rutherford. He served previously in the Illinois State Senate, representing District 53 from 2003 to 2010 and serving as an Assistant Minority Leader. Before becoming a Senator, Rutherford was a member of the Illinois House of Representatives from 1993 to 2003. Rutherford was first elected Treasurer in 2010, succeeding Alexi Giannoulias.^[1] Rutherford's term as Treasurer expires in 2015.

Rutherford graduated from Illinois State University with his Bachelor's degree in 1978.^[2] Rutherford also served as a Legislative Assistant for former State Representative Tom Ewing from 1978 to 1980 and was a Business Executive. ^[2]

Authority

The treasurer's office is authorized by Article V, Section 1 of the Illinois Constitution.

Article V, Section 1

Officers: The Executive Branch shall include a Governor, Lieutenant Governor, Attorney General, Secretary of State, Comptroller and Treasurer elected by the electors of the State. They shall keep the public records and maintain a residence at the seat of government during their terms of office.

Qualifications

Here is a list of the standard qualifications necessary under Illinois State Law in order to be considered for the Office of Treasurer:

To be eligible to hold the office of Governor, Lieutenant Governor, Attorney General, Secretary of State, Comptroller or Treasurer, a person must be:

a United States citizen, at least twenty-five (25) years old
a resident of this State for the three years preceding his election (Illinois Constitution, Article V § 3)

Elections

According to Article V, Section 2 of the state constitution, state treasurers shall hold office for four years beginning on the second Monday of January after their election and until their successors are qualified. The state treasurer be elected at the general election in 1978 and every four years thereafter.

Vacancies

Article V, Section 7 of the Illinois Constitution addresses vacancies in the office of the treasurer. If the Treasurer...fails to qualify or if his office becomes vacant, the Governor shall fill the office by appointment. The appointee shall hold office until the elected officer qualifies or until a successor is elected and qualified as may be provided by law and shall not be subject to removal by the Governor.

Duties

The specific duties of the treasurer are outlined in Article V, Section 18 of the Illinois Constitution.

Article V, Section 18, Treasuruer - Duties: "The Treasurer, in accordance with law, shall be responsible for the safekeeping and investment of monies and securities deposited with him, and for their disbursement upon order of the Comptroller."

The main duty performed by this office is investing the state money collected and distributing it as needed. The office offers programs to help state citizens with their own financial well being such as classes to help manage money. A college savings program is also run by the office to help students in need as well as keeping track and returning unclaimed property.

Divisions

The main divisions within the office of Illinois Treasurer include:^[3]

Accounting
Banking
Bright Start College Savings Program
Capital Litigation
Cultivate Illinois
Business Invest
E-Pay
Estate Tax Division
Executive Inspector General
External Affairs
Finally Home
Financial Education
Fiscal Operations
Illinois Funds
Information Technology (IT)
Internal Audit
Law Division
Legislative Affairs
Opportunity Illinois
Personnel
Press Office
Scheduling & Events Management
State Treasurer's TDD Line
Unclaimed Property Division
Warrant Division

Compensation

See also: Compensation of state executive officers

2012

In 2012, the treasurer was paid an estimated $135,669. This figure comes from the Council of State Governments.

2010

In 2010, the Illinois Treasurer was paid an estimated $130,800 according to the Council of State Governments.^[4]

Recent news

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